Each of these factors is rated as a percentage (0–100%). The overall rating is then calculated as an average of the individual criteria. Below we describe how the individual scores used for reviews and broker comparisons are created, taking into account market variability and specifics.
1. Trustworthiness
Broker trustworthiness is crucial for investors. We evaluate:
- Regulation for the given market (primary weight): Regulation relevant to the specific market (e.g. FCA for the United Kingdom, CySec for the European Union, ASIC for Australia, SEC for the United States) is most important. Additional licences can improve the score, but their impact is not decisive.
- Market presence duration: A long history indicates stability and experience.
- Transparency: We assess whether the broker publishes financial results, clearly communicates trading conditions, and provides easily accessible information.
Rating example:
- A broker with top-tier regulation, 10-year history, and transparent approach will receive 90–100%.
- A broker without adequate regulation or with unclear trading conditions may only be rated 50% or less.
2. Fees
Fees have a direct impact on traders’ costs. We evaluate:
- Spreads and commissions: Lower values increase the score.
- Hidden fees: We penalise unexpected or non-transparent fees, e.g. for withdrawals.
- Comparison with competitors: Advantageous conditions compared to other brokers add points.
Rating example:
- A broker with low spreads on major currency pairs (e.g. 0.1 pip) and no withdrawal fees will receive 90–100%.
- A broker with high spreads and fees for common operations could be rated below 50%.
3. Trading Platform
The trading platform should be reliable, intuitive, and accessible. We evaluate:
- User-friendliness: Intuitive controls, clear environment, and ease of use.
- Functionality: Availability of advanced tools – e.g. copy trading, social trading, automatic investing, ability to programme your own automatic trading systems, platform processing quality including availability of market analysis tools.
- Speed and stability: The platform should function quickly and stably even under high load.
- Mobile application: We evaluate the quality and rating of the mobile app on App Store and Google Play, including the number of reviews. If a broker doesn’t offer a mobile trading app, it loses 30% of its rating.
Rating example:
- A broker with an intuitive, fast platform and mobile app rated 4.5+ stars with over 1000 reviews will receive 85–100%.
- A broker without a mobile app or with low ratings (e.g. below 3 stars) will receive maximum 70%.
4. Educational Materials
Education is an important part of traders’ success. We evaluate:
- Scope and quality of educational materials: Materials such as webinars, guides, and e-books are a positive factor.
- Updates: Content should reflect current market conditions.
- Accessibility: Free materials are rated better than paid ones.
- Localisation to the reader’s language: Content available in the user’s language is a great advantage.
Rating example:
- A broker with extensive, current materials localised to the reader’s language will receive 90–100%.
- A broker with limited or non-localised materials could only be rated 40–60%.
5. Customer Support
Quality support is crucial for problem resolution. We evaluate:
- Speed and quality of responses: We test response times and quality of provided solutions.
- Communication methods: Availability of online chat, email, phone support, and other channels improves the rating.
- Availability: 24/7 support is an advantage.
Rating example:
- A broker with quick response via online chat and phone, available 24/7, will receive 90–100%.
- A broker with limited support options and long response times may be rated below 50%.
Overall Rating
Individual ratings are averaged and the result is the broker’s overall score. We round to one decimal place to keep the rating clear.
Rating example:
- Trustworthiness: 95%
- Fees: 85%
- Trading Platform: 90%
- Educational Materials: 80%
- Customer Support: 70%
- Overall Rating: (95 + 85 + 90 + 80 + 70) ÷ 5 = 84.0%
Variability Option
Broker ratings take into account real users’ experiences, we update them at regular intervals (1-6 months), ensuring they remain current and reflect actual market conditions.
Conclusion
Our methodology ensures transparent and fair broker evaluations. Thanks to the percentage system and consideration of key criteria, you can find the broker that best meets your needs.