Our methodology for Forex broker reviews

When creating the methodology for Forex broker reviews, we decided to focus on several important factors. We are rating the following 8 aspects of the broker: 

  1. Safety
  2. Assets
  3. Fees
  4. Account opening
  5. Trading software
  6. Support
  7. Research
  8. Mobile experience

The total score for each of the categories is 5. Every category has a different coefficient. The coefficient for regulations is 2; available assets - 1,5; fees - 1; account opening - 0.5; Trading software - 1.5; customer support - 0.5; research - 0.5; mobile experience - 0.5.

Safety - Coefficient=2

The rating of regulations depends on many factors. Theoretically, the total score for regulations can go up to 18. But, in practice, not a single broker owns every single license. Because of this, the maximum point for regulations is 5 as well.

Forex regulators and their points: 

High-trust regulators:

This list includes regulatory bodies with the best reputation in the market. Most of them are from developed nations. They have very strict regulations, limit the maximum leverage, and almost all of them require brokers to be part of a financial fund to protect traders’ funds.

Financial Conduct Authority of the UK, FCA1.5
Commodity Futures Trading Commission of the US, CFTC1.5
Australian Securities and Investment Commission, ASIC1
BaFin, Germany1
Securities Futures Commission, Hong Kong1
FINMA, Switzerland1
Japanese Financial Services Authority1
Investment Industry Regulatory Organization of Canada0.9

Average Trust Regulators

All the regulators below are quite well-known. They require brokers to follow somewhat strict guidelines but fail to ensure the same safety standards as high-trust regulators.

CySEC, Cyprus0.35
Central Bank of Ireland0.5
Financial Markets Authority of New Zealand0.5
FSCA, South Africa0.5
China Banking Regulatory Commission of China0.5
Securities and Exchange Commission of Thailand0.5
Central Bank of the United Arab Emirates, Dubai Financial Services Authority0.5
Capital Markets Board of Turkey0.5
Swedish Financial Supervisory Authority0.5
Central Bank of Russia0.5
Monetary Authority of Singapore0.5
Reserve Bank of India0.5
Financial Supervisory Commission, South Korea0.5
Commissione Nazionale per le Società e la Borsa, Italy0.5
Comisión Nacional del Mercado de Valores, Spain0.4
Romanian Financial Supervisory Authority0.3
National Bank of Slovakia0.3

Low trust regulators

The regulators below are offshore agencies, that are not able to guarantee the safety of Forex traders.

International Financial Services Commission, IFSC0.2
International Financial Services Commission, IFSC, Belize0.3
BVI Financial Services Commission 0.1
Cayman Islands Monetary Authority0.2
Mauritius' Financial Services Commission0.2
Securities Commission of the Bahamas0.2
The Financial Services Authority, St. Vincent and the Grenadines0.2

Available Assets - coefficient=1.5

For assets, the maximum point a broker can get is also 5. Every single asset class is rated individually. 


Add up the scores to get the final one;

Availability of major pairs0.2
Availability of minor pairs0.2
Availability of exotic pairs0.4
Availability of over 100 pairs0.5
Availability of over 50 pairs0.3
Availability of over 35 pairs0.2

The maximum score for FX pairs - 1.3



Add up the scores to get the final one;

Over quantity of stocks is over 1,5000.3
Offers UK stocks0.2
Offers US stocks0.2
Offers Australian stocks0.1
Offers penny stocks0.2

The maximum score for stocks - 1


Add up the scores to get the final one;

Leverage for crypto trading is over 1:50.1
Offers Bitcoin and Ethereum0.05
Offers Binance Coin0.05
Shina Inu0.05
Wrapped Bitcoin0.2
Bitcoin Cash0.05
FTX Token0.2
Steller 0.1

The maximum score for cryptocurrencies - 2


Add up the scores to get the final one;

Availability of global stock CFDs0.2
Availability of global index CFDs0.1
Availability of crypto CFDs0.1
Availability of Forex CFDs0.1
Availability of commodity CFDs0.2

The maximum score for - 0.7

Maximum total score for assets - 5.

Fees - coefficient=1

Add up the scores to get the final one;

Does not charge inactivity fee1.2
Does not charge fees on deposits0.5
Does not charge fees on withdrawals0.8
Spreads for major pairs start from 00.9
Availability of both fixed and variable spreads0.7
Charges commission less than $7 per 100,000 Forex trade0.4
Chares lower than 3% commission on stock trades0.5

Maximum total score for fees - 5

Account types & opening - coefficient=0.5

Add up the scores to get the final one;

Availability of demo account0.4
It takes less than a day to open an account0.8
Availability of VIP/Active Trader account0.6
Verification required according to online KYC, using tools to verify in a short time0.7
Availability of micro account0.8
Availability of standard account0.4
Availability of Islamic account0.9
Availability of managed account0.4

Maximum total score for accounts - 5

Trading software - coefficient=1.5

Add up the scores to get the final one;

Availability of a web-based platform0.9
Availability of mobile trading platform1.2
Offers custom trading platform0.6
Offers MetaTrader 4, MetaTrader 5 or cTrader0.5
Different platforms can be used with single account0.7
Allows social trading0.3
The trading platform offers automated trading capabilities0.8

Maximum total score for software - 5

Customer support - coefficient=0.5

Add up the scores to get the final one;

Availability of the live chat 1
Availability of the online form0.6
Availability of e-mail support0.8
Availability of hotline1.2
The support is available in over 5 languages1.4

Maximum total score for customer support - 5

Research - coefficient=0.5

Add up the scores to get the final one;

Availability of simple guides on basic terms0.5
Special research tools, such as economic calendar0.8
Offers video guides1.3
Offers webinars and special trading courses1.2
Daily news on market events0.6
Analytical guides on market conditions0.6

Maximum total score for customer support - 5

Mobile experience - coefficient=0.5

Add up the scores to get the final one;

The mobile trading platform offers trading charts1.2
Allows technical analysis with indicators0.8
The website is mobile-friendly1.3
Offers a mobile trading app1.2
The app is available on all mobile devices, including iOS, Android, Windows Phone0.5