Our broker reviews are based on real testing and a transparent rating methodology. We open real accounts, deposit our own money, test trading platforms and communicate with customer support to find out how individual brokers perform in practice.
We assess five key areas: Fees, Trading Platform, Trustworthiness, Educational Materials and Customer Support. Each category reflects the factors that matter most to the average trader.
On this page, we show you how the entire rating process works, which 23 sub-criteria we use to assess brokers, and which dozens of measured data points from real testing our results are based on.
Each area has a percentage rating (0-100%) and its own weight according to how strongly it affects the average trader. We then calculate the overall score as a weighted average. Below you will find the specific procedures we use when testing for our broker reviews and comparisons.
| Criterion | Weight | What we measure |
|---|---|---|
| Fees | 30% | Spreads, commissions on shares/ETFs, deposit, withdrawal and inactivity fees |
| Trading Platform | 25% | Clarity, features, speed, stability and mobile app |
| Trustworthiness | 20% | Regulation, transparency, account security and results of our own testing |
| Educational Materials | 15% | Range, quality, localisation into English and how up to date the content is |
| Customer Support | 10% | Speed, quality of responses, communication channels and support in English |
Who writes and verifies the reviews
Most reviews on Forbino.com are written by Josef Kuchař, the founder of the portal and an active investor with more than 10 years of experience trading commodities, shares and ETFs. The author of each review is always clearly marked with an icon directly in the article header. So you always know who stands behind a given rating.
All authors follow this methodology when creating reviews.
The accuracy and timeliness of the data are then verified by Ing. David Zacha, an editor focused on fact-checking. David has been investing since 2011 and has years of experience with shares, ETFs, forex and commodity CFDs. His task is to check that all information in the review, including fees, regulation and platform features, matches the broker’s current offering.
This is a two-stage process. The author writes the review based on their own testing, then an independent verifier checks the facts. Thanks to this, our ratings are based on real experience while also remaining factually accurate.
How we assess brokers in practice
We do not rewrite information from a broker’s website. For each broker, we open a real account, go through the full registration process including identity verification, deposit our own money and place real trades.
Testing also includes verifying withdrawals. We check how quickly the money arrives back in the account and whether the withdrawal involves complications or unnecessary delays. We also check whether the withdrawal was processed without fees, or whether a bank deducted something “along the way”. This can typically happen with USD withdrawals, where the broker itself does not charge a withdrawal fee, but a correspondent bank still takes its share. In our analysis, we noticed that with some brokers, withdrawals take significantly longer than promised in the terms and conditions. That is reflected in the rating.
Only after this direct experience do we assess the individual criteria. We supplement it with publicly available sources including regulator registers, mobile app ratings on the App Store and Google Play, official fee schedules and trading terms.
Weights of the individual criteria
Not all criteria have the same impact on the overall rating. We assign them weights according to how strongly they affect your experience with a broker:
| Criterion | Weight | Why this weight? |
|---|---|---|
| Fees | 30% | Trading costs directly affect your results. Every extra pip adds up. |
| Trading Platform | 25% | This is the tool you work with every day. A poor platform costs you time and patience. |
| Trustworthiness | 20% | We recommend only verified brokers with local regulation or notification with the relevant regulator. |
| Educational Materials | 15% | They help beginners in particular avoid costly mistakes at the start. |
| Customer Support | 10% | Important when solving problems, but most traders do not need it every day. |
1. Fees (weight 30%)
Fees directly reduce your results. That is why we give them the highest weight. Most importantly, we do not assess them from a broker’s marketing materials. We measure them ourselves, on a live account, with our own money.
How we measure fees in detail
For CFD brokers, we measure total costs based on average spreads on three instruments: EUR/USD, USD/JPY and gold (XAU/USD). We record the spread three times during the trading day, in the morning, at noon and in the evening, and calculate an average from the measured values.
Why three times? Because spreads change during the day. They are often wider in the morning and usually narrow around the opening of the US markets. If we measured only once, the result could be distorted.
The individual instruments have different weights in the calculation:
- EUR/USD: weight 50% – the most traded currency pair and the main benchmark for comparing brokers.
- USD/JPY: weight 25% – the second most liquid currency pair.
- Gold (XAU/USD): weight 25% – the most popular commodity among CFD traders.
Example calculation of the cost score
The principle is simple. The broker with the best measured spreads across all three instruments receives 100%. The higher the spreads, the lower the rating. Let us look at a few examples:
Average spread on EUR/USD = 0.7 pip, USD/JPY = 0.9 pip, Gold = 1.7 pip.
Weighted average: (0.7 × 0.50) + (0.9 × 0.25) + (1.7 × 0.25) = 0.35 + 0.225 + 0.425 = 1.0
Such a broker receives a 100% rating in the spreads category. These are among the best values you will find on the market.
Average spread on EUR/USD = 1.0 pip, USD/JPY = 1.3 pip, Gold = 2.5 pip.
Weighted average: (1.0 × 0.50) + (1.3 × 0.25) + (2.5 × 0.25) = 0.50 + 0.325 + 0.625 = 1.45
The rating falls to approximately 70%. Still a decent result, but you will already feel the difference in costs.
Average spread on EUR/USD = 1.5 pip, USD/JPY = 1.8 pip, Gold = 3.5 pip.
Weighted average: (1.5 × 0.50) + (1.8 × 0.25) + (3.5 × 0.25) = 0.75 + 0.45 + 0.875 = 2.08
The rating drops to approximately 40%. Such spreads are well above average and represent unnecessarily high costs for active traders.
As a rough benchmark, we consider an average EUR/USD spread of up to 0.7 pip excellent. Up to 1.0 pip is still a good result. Anything above 1.2 pips? Those are above-average costs that will have a noticeable effect on the rating.
ECN brokers and commissions
For ECN brokers that charge a commission per lot, we convert the commission into a spread equivalent and add it to the measured spread. This gives us comparable figures across different types of brokers, whether the broker uses a model with a higher spread and zero commission or a model with a lower spread and a commission per lot.
Fees for trading real shares and ETFs
If a broker offers trading in real shares and ETFs, we also assess the fees for these trades. The principle here is simple.
A broker that allows you to trade shares and ETFs without a fee receives a sub-rating of 100%.
Some brokers offer commission-free trading only up to a certain monthly limit. If that limit is EUR 50,000 per month or more, we treat it as commission-free trading. For the average retail trader, that is a sufficiently high volume, and in practice most people will never reach that limit.
However, if the limit is low, below EUR 50,000 per month, and fees apply after it is exceeded, we assess it as if fees applied from the start. In that case, we do not take the limit into account because it would be difficult to reflect properly in the calculation, and a more active trader is more likely to hit it.
And what does it look like for brokers that charge fees?
- Fee of USD 1 per side (that is USD 2 for buy + sell): sub-rating 80%. Still an acceptable cost.
- Fee of USD 2 or more per side (that is USD 4 or more for buy + sell): sub-rating 65%. At this point the costs become noticeable, especially with more frequent trading.
Deposit fee
Most brokers offer at least one free deposit method. If they do, the sub-rating is 100%. However, if a broker charges a fee for all deposit methods, the rating is reduced according to the size of the fee:
- Fee of 0.5%: sub-rating 80%
- Fee of 1%: sub-rating 70%
- Fee of 1.5%: sub-rating 60%
- Fee of 2% or more: sub-rating 50% or less
We do not take fixed fees of up to EUR 10 into account. They do not have a major effect on a trader’s overall costs. Over the entire time we have been reviewing brokers, however, we have hardly encountered fixed deposit fees in practice. Brokers usually charge a percentage fee or offer deposits free of charge.
Withdrawal fee
As mentioned above, we always make a real withdrawal during testing. We assess not only the speed but also how much the withdrawal actually cost us. The sub-rating works as follows:
- Free withdrawal (at least one method without a fee): sub-rating 100%
- Fee up to EUR 5 (or equivalent): sub-rating 85%
- Fee of EUR 5-15: sub-rating 70%
- Fee above EUR 15 or a percentage fee based on the amount: sub-rating 50% or less
We do not include correspondent bank fees, which may deduct their share during a transfer, typically with dollar withdrawals, in the broker’s rating. That is not a broker fee but a bank fee. However, we point this out in the review so that you know what to expect.
Inactivity fee
Some brokers charge a fee if you do not trade on the account for a longer period. We do not consider this a crucial factor, but it is reflected in the rating:
- No inactivity fee or up to EUR 20 per year: sub-rating 100%
- EUR 30 per year: sub-rating 80%
- EUR 50 or more per year: sub-rating 60%
Currency conversion fee
We do not take currency conversion fees into account in the rating. Why? Because they can be avoided. Most brokers offer alternative deposit methods that bypass conversion, or they allow you to hold the account in the currency you deposit. If you choose the right deposit method, you may not encounter a conversion fee at all.
How the overall fees score is created from the sub-ratings
We combine all sub-ratings, including spreads, share and ETF fees, deposit fee and inactivity fee, into the overall fees rating using a weighted average:
| Sub-rating | Weight | Why? |
|---|---|---|
| Spreads (CFD) | 40% | The main cost of every trade. You pay it every time. |
| Share and ETF fees | 30% | A decisive factor for investors in real shares and ETFs. |
| Deposit fee | 15% | Affects costs every time you top up the account. |
| Withdrawal fee | 10% | Less frequent, but it can be an unpleasant surprise. |
| Inactivity fee | 5% | A marginal factor, but relevant for less active traders. |
Let us imagine a broker with these sub-ratings:
Spreads: 100% (excellent spreads)
Shares and ETFs: 80% (fee of USD 1 per side)
Deposit: 100% (at least one free method)
Withdrawal: 100% (no fee)
Inactivity: 100% (no fee)
Overall fees rating: (100 × 0.40) + (80 × 0.30) + (100 × 0.15) + (100 × 0.10) + (100 × 0.05) = 40 + 24 + 15 + 10 + 5 = 94.0%
When choosing a broker, do not focus only on spreads. Check deposit, withdrawal and inactivity fees as well. A broker with the lowest spreads but a high withdrawal fee may end up costing you more than a broker with slightly higher spreads and free withdrawals.
2. Trading Platform (weight 25%)
The platform is your main working tool. You may have the best strategy in the world, but if the platform crashes or is confusing, trading will not be pleasant. We test every platform personally. We open an account, place trades and try advanced features.
Let us look at what exactly we assess:
Ease of use and clarity (weight 25%)
How easily can a beginner find their way around the platform? And does it also offer enough tools for an advanced trader? We assess the design, layout of elements, menu intuitiveness and the overall impression of working with the platform.
- The platform is intuitive and clear even without instructions: sub-rating 100%
- You can find your way around, but it takes a while, and some features are hidden: sub-rating 75%
- Confusing interface, where a beginner can easily get lost: sub-rating 50%
- Outdated or confusing design, working with the platform is frustrating: sub-rating 30%
Features and tools (weight 30%)
Here we assess everything the platform offers. Copy trading, social trading, automated investing, the ability to programme your own trading systems, and market analysis tools. The more useful features, the better.
- Wide range of features including advanced tools such as copy trading, automated investing, custom scripts and quality charts with indicators: sub-rating 100%
- Solid offering, with basic analytical tools and charts, but some advanced features are missing: sub-rating 75%
- Basic features, limited analysis options, no advanced tools: sub-rating 50%
- Very few features, the platform is used practically only for placing orders: sub-rating 30%
Speed and stability (weight 20%)
We test order execution speed and interface responsiveness. The platform must work reliably even under heavier load. If the platform freezes at the exact moment when you need to react quickly, that is a problem.
- Fast execution, no outages, stable even in volatile markets: sub-rating 100%
- Occasional minor delay, but no outages: sub-rating 80%
- Noticeable delay or occasional outages: sub-rating 55%
- Frequent outages or very slow response: sub-rating 30%
Mobile app (weight 25%)
We check ratings on the App Store and Google Play, including the number of reviews. If a broker does not have a mobile app at all, it automatically receives 0% in this category.
- Rating of 4.5+ stars with more than 10,000 reviews: sub-rating 100%
- Rating of 4.0-4.4 stars with more than 5,000 reviews: sub-rating 85%
- Rating of 3.5-3.9 stars or few reviews, below 1,000: sub-rating 65%
- Rating below 3.5 stars: sub-rating 45%
- The broker has no mobile app: sub-rating 0%
We calculate the mobile app rating as the average of the ratings from the App Store and Google Play. By contrast, we add together the number of reviews from both stores. An app with an average rating of 4.5 stars and a total of 50,000 reviews has greater value as evidence than an app with 4.8 stars and 200 reviews.
How the overall platform score is created from the sub-ratings
| Sub-rating | Weight |
|---|---|
| Features and tools | 30% |
| Ease of use and clarity | 25% |
| Mobile app | 25% |
| Speed and stability | 20% |
A broker with its own platform, good features, but an average mobile app:
Features and tools: 100% (copy trading, automated investing, quality charts)
Ease of use and clarity: 100% (intuitive interface)
Mobile app: 85% (rating of 4.2 stars, 15,000 reviews)
Speed and stability: 100% (fast execution, no outages)
Overall platform rating: (100 × 0.30) + (100 × 0.25) + (85 × 0.25) + (100 × 0.20) = 30 + 25 + 21.25 + 20 = 96.3%
3. Trustworthiness (weight 20%)
This is not about subjective impressions. We verify trustworthiness using hard data. We check regulatory information directly in the registers of the relevant regulators, including the FCA, CySEC, ASIC and others. We recommend only brokers that meet the basic requirements for regulation and transparency.
What exactly do we assess:
- Regulation for the given market: Regulation relevant to your market is the most important factor. For the UK, this is the FCA, for the EU more broadly CySEC, and for Australia ASIC. We verify the validity of the licence directly in the regulator’s register. Additional licences can improve the score, but they do not have a decisive effect.
- Length of time on the market: A broker with a 10-year history inspires more confidence than a company founded last year.
- Transparency: Does the broker publish financial results? Are the trading terms clearly available? Are fees, risks and client protection information easy to find?
Results of our own testing
In addition to the “paper” data, we also take into account how the broker behaves in practice. During testing, we monitor the whole journey from registration to withdrawal:
- Registration and identity verification: Did registration go smoothly? How long did identity verification take? Were there unnecessary complications or suspicious requests?
- Deposit of funds: Did the money arrive in the account within the stated timeframe? Did the deposit work without problems?
- Withdrawal of funds: Here we are especially attentive. Withdrawal is the moment of truth. If a broker accepts deposits without problems but complicates or delays withdrawals, that is a serious warning sign.
Account security
We also assess how the broker protects your account. Two-factor authentication, or 2FA, should be standard today. We look at:
- 2FA (two-factor authentication): Does the broker offer verification through an app such as Google Authenticator or by SMS code? If yes, that is a plus. If not, it is a weakness.
- Login security: Biometric login in the mobile app, such as fingerprint or Face ID, alerts for login from a new device, and automatic logout after inactivity.
- Protection against unauthorised access: Does the broker require verification when changing a password or withdrawing to a new bank account? These extra steps may seem annoying, but in reality they protect your money.
How the overall trustworthiness score is created from the sub-ratings
| Sub-rating | Weight |
|---|---|
| Regulation for the given market | 40% |
| Results of our own testing (registration, deposit, withdrawal) | 25% |
| Transparency | 15% |
| Account security (2FA, biometrics, protection) | 10% |
| Length of time on the market | 10% |
A broker regulated by CySEC, with a 12-year history, but without 2FA:
Regulation: 95% (CySEC + notification with the FCA)
Own testing: 90% (smooth registration, deposit and withdrawal without problems, withdrawal within 2 days)
Transparency: 85% (terms easy to find, but no published financial results)
Account security: 60% (no 2FA, only password and email verification)
Length of time on the market: 100% (more than 10 years on the market)
Overall trustworthiness rating: (95 × 0.40) + (90 × 0.25) + (85 × 0.15) + (60 × 0.10) + (100 × 0.10) = 38 + 22.5 + 12.75 + 6 + 10 = 89.3%
4. Educational Materials (weight 15%)
Education is an area that many traders underestimate. Yet high-quality materials from a broker can save you a lot of money, especially at the beginning. We go through the available materials and assess their real usefulness. We are not interested in quantity, but in quality.
I have to admit that with some brokers, the educational section pleasantly surprised us. With others, it felt more like compulsory content that you click through without learning much.
Range and quality of materials (weight 50%)
We assess whether the broker offers webinars, video guides, e-books, articles or interactive courses. Most importantly, we look at whether they cover topics from the absolute basics to advanced strategies.
- Extensive library with webinars, courses, video guides and articles for beginners and advanced users alike: sub-rating 100%
- Solid offering, covering basics and intermediate topics, but lacking depth: sub-rating 75%
- Basic materials, a few articles or FAQs and nothing more: sub-rating 45%
- Almost nothing or only promotional content presented as education: sub-rating 15%
How up to date the content is (weight 35%)
Educational materials must reflect current market conditions. During testing, we check whether the information in the materials is still valid and matches current reality. A broker does not necessarily need to add new content every month, but what it does offer must be current and updated.
- All content is up to date and matches current conditions: sub-rating 100%
- Most content is up to date, with minor outdated points in marginal topics: sub-rating 75%
- Outdated information, content does not match current conditions: sub-rating 40%
Accessibility (weight 15%)
Are the materials free, or does the broker charge for them? We rate free access more highly.
- All materials free for all clients: sub-rating 100%
- Basic materials free, advanced ones only for higher account types: sub-rating 70%
- Most materials paid or conditional on a higher deposit: sub-rating 40%
How the overall educational materials score is created from the sub-ratings
| Sub-rating | Weight |
|---|---|
| Range and quality of materials | 50% |
| How up to date the content is | 35% |
| Accessibility | 15% |
A broker with high-quality materials, but limited localisation:
Range and quality: 100% (webinars, video courses, e-books, articles for all levels)
How up to date the content is: 75% (occasional updates, content still relevant)
Accessibility: 100% (everything free)
Overall educational materials rating: (100 × 0.40) + (75 × 0.35) + (100 × 0.15) = 40 + 26 + 15 = 81.0%
5. Customer Support (weight 10%)
Most traders do not need customer support every day. But when you do need it, you want a fast and competent answer. That is why we test it ourselves. We contact support on different days and at different times, send real questions and measure how quickly and how well they respond.
When we tested brokers, we were surprised by how large the differences between them were. With one broker, we received a specific answer via live chat within two minutes. With another, we waited three days for an email reply. And we are talking about brokers with similar ratings on other websites.
Response speed (weight 30%)
We measure the actual response time based on our test questions.
- Reply within 5 minutes by live chat or within 2 hours by email: sub-rating 100%
- Reply within 30 minutes by live chat or within 12 hours by email: sub-rating 75%
- Reply within 24 hours: sub-rating 50%
- Reply takes longer than 24 hours or you do not receive one at all: sub-rating 20%
Quality of responses (weight 30%)
A fast response is good, but if it is just copied from the FAQ, it will not help much. We assess whether support actually solves your problem.
- Specific and accurate answer, problem solved on the first attempt: sub-rating 100%
- The answer is relevant, but we needed to clarify the question or write again: sub-rating 70%
- General answer, link to FAQ, problem not solved: sub-rating 40%
- Incompetent answer or no help at all: sub-rating 15%
Communication channels (weight 15%)
The more ways there are to contact support, the better.
- Live chat + email + phone: sub-rating 100%
- Live chat + email without phone: sub-rating 80%
- Email only or a contact form: sub-rating 45%
Support in English (weight 15%)
A major advantage for traders in the UK. Dealing with a technical problem in a foreign language can be unnecessarily stressful.
- Full support in English by chat, phone and email: sub-rating 100%
- Partial support in English, for example email only, with chat in another language: sub-rating 65%
- No English-language support: sub-rating 35%
Availability (weight 10%)
- 24/7: sub-rating 100%
- 24/5 (weekdays around the clock): sub-rating 85%
- Limited hours such as 9-5: sub-rating 50%
How the overall customer support score is created from the sub-ratings
| Sub-rating | Weight |
|---|---|
| Response speed | 30% |
| Quality of responses | 30% |
| Communication channels | 15% |
| Support in English | 15% |
| Availability | 10% |
A broker with fast chat support in a foreign language, but without English-language support:
Response speed: 100% (chat replied within 3 minutes)
Quality of responses: 70% (relevant, but we had to clarify the question once)
Communication channels: 100% (chat, email and phone)
Support in English: 35% (no English-language support)
Availability: 85% (24/5)
Overall customer support rating: (100 × 0.30) + (70 × 0.30) + (100 × 0.15) + (35 × 0.15) + (85 × 0.10) = 30 + 21 + 15 + 5.25 + 8.5 = 79.8%
Overall rating
We calculate a broker’s overall score as a weighted average of all five criteria. We round the result to one decimal place.
What does this look like in practice? Here is an example:
Fees (30%): 85% → 85 × 0.30 = 25.5
Trading Platform (25%): 90% → 90 × 0.25 = 22.5
Trustworthiness (20%): 95% → 95 × 0.20 = 19.0
Educational Materials (15%): 80% → 80 × 0.15 = 12.0
Customer Support (10%): 70% → 70 × 0.10 = 7.0
Overall rating: 25.5 + 22.5 + 19.0 + 12.0 + 7.0 = 86.0%
Updates and independence of ratings
Reviews are not static. We update ratings at intervals of 1-6 months, but we also respond to specific events. Has the broker changed its fees? We update. New regulation? We update. Major platform update? We update. Feedback from readers pointing out a change? We update again.
We also take into account the experiences of real users, which we monitor and assess on an ongoing basis.
Editorial independence and conflicts of interest
Forbino.com has affiliate partnerships with some brokers. If you register through our link, we may receive a commission. But here is the key point: the partnership never affects the rating. A broker with an affiliate relationship is assessed using the same methodology and the same standards as a broker without one.
What our methodology does not cover
No methodology is perfect, and there is no point pretending otherwise. That is why we openly state where ours has its limits:
- We do not assess every trading instrument separately. We focus on the most popular instruments, including major currency pairs and gold, which most traders use.
- The experience may vary by region. A broker’s conditions depend on the entity and regulation under which you trade.
- Spreads and conditions change over time. Our measurements capture the situation at the time of testing, which is why we update ratings regularly.
- We do not take tax aspects of trading into account because they vary by country and by each investor’s individual situation.
- We do not assess the quality of the broker’s analytical materials, such as daily market analysis or trading signals. That is a different category from educational materials, and its value is highly subjective.
- We do not assess conditions for professional traders. Our reviews focus on retail traders. Professional accounts have different leverage, different protection conditions and different fees.
Disclaimer
This rating serves as an information source and does not constitute investment advice. Trading in financial instruments involves the risk of losing invested funds. Before you start trading, consider your financial goals, experience and risk tolerance. If necessary, consult an independent financial adviser.
Conclusion
Our methodology is based on a weighted percentage system, real testing and a two-stage verification process, author plus fact-checker. The goal is not just to assign brokers a number. We want to give you enough information to choose the broker that best matches your needs.
If you are unsure which broker to choose, take a look at our broker comparison, where you will find a clear side-by-side comparison of ratings.
If you have questions about the methodology or suggestions for improvement, do not hesitate to contact us. Feedback from readers is valuable to us and helps us keep improving our ratings.
Frequently asked questions (FAQ)
How often do you update broker ratings?
We update ratings at intervals of 1-6 months. In addition to regular updates, we also respond to specific changes at a broker, such as fee adjustments, new regulation or a major platform update. If a reader alerts us to a change, we verify it and adjust the rating if necessary.
Do affiliate partnerships affect your ratings?
No. An affiliate partnership means that if you register through our link, we may receive a commission. However, the rating is created using the same methodology and the same standards for all brokers, regardless of whether we have an affiliate relationship with them.
Why does a broker have a different rating on your website than elsewhere?
Every website uses a different methodology, different criterion weights and a different approach to testing. We measure spreads on a live account, test withdrawals using our own money and verify facts in two steps. Other websites may assess brokers using different parameters or different priorities. It also depends on which market the rating is intended for. A broker that is excellent for traders in the UK may not be the best choice for another market.
Do you test brokers on a demo account or a real account?
Always on a real account with our own money. A demo account may have different conditions, for example better spreads or faster execution, so the results might not match reality. We deposit our own funds, place real trades and also test withdrawing money back to the account.
Can I suggest a broker for review?
Absolutely. If you are interested in a broker we have not reviewed yet, let us know through the contact form. We cannot promise a specific date, but we do take reader suggestions into account when planning new reviews.