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.

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.

Low trust regulators

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

Available Assets - coefficient=1.5

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

Forex:

Add up the scores to get the final one;

The maximum score for FX pairs - 1.3

Stocks

Add up the scores to get the final one;

The maximum score for stocks - 1

Cryptocurrencies

Add up the scores to get the final one;

The maximum score for cryptocurrencies - 2

CFDs

Add up the scores to get the final one;

The maximum score for - 0.7

Maximum total score for assets - 5.

Fees - coefficient=1

Add up the scores to get the final one;

Maximum total score for fees - 5

Account types & opening - coefficient=0.5

Add up the scores to get the final one;

Maximum total score for accounts - 5

Trading software - coefficient=1.5

Add up the scores to get the final one;

Maximum total score for software - 5

Customer support - coefficient=0.5

Add up the scores to get the final one;

Maximum total score for customer support - 5

Research - coefficient=0.5

Add up the scores to get the final one;

Maximum total score for customer support - 5

Mobile experience - coefficient=0.5

Add up the scores to get the final one;