How does the investfox team compose forex broker reviews?
In order to provide our readers with the most in-depth reviews out there, investfox editor team performs a set of tasks to analyze, rate and review the brokerage. At first, our experts start collecting all the possible publicly available data about the brokerage - this is typically done through brokers' website.
Considering the fact that the vast majority of the brokerages operate via more than one legal entity, our experts often use VPN to access the Forex brokers’ websites from more than one location. This is done to deliver the most comprehensive information to our readers, since broker’s Cyprus (CySEC) entity offer may be significantly different from the conditions offered by its UK (FCA) entity.
Yet not everything can be seen on the surface. In case there is data that our experts are unable to extract through publicly available sources, then we are turning to brokers’ client service for help. We often access client support chats or open support tickets with a brokerage to find out the necessary information. Also, to fully describe the account application process in our forex brokers reviews, our experts apply for an account at a brokerage.
In rare cases we will also pass the KYC and other requirements to fully apply for an account and fund it, to preview the real market conditions and services offered by a forex broker.
How do investfox users leave their reviews?
investfox has been built on the idea of transparency, and we do believe that the voice of every trader shall be heard. Hence, our main priority is to serve as a platform for user-generated feedback. This way we are able to deliver a truly unique forex broker rating that helps thousands of traders to get matched with legitimate forex brokers only.
We provide our users with an opportunity to review and rate the brokers. After we have identified the user's experience with the broker (live account, demo account or no account), we let the user rate the brokerage over 8 unique dimensions, and finally the user has also an option to leave the text review of a broker to justify the rating.
Can investfox forex broker ratings be changed?
Yes, most certainly. Our expert team conducts an annual review of the top-rated brokerages to update the ratings of the broker. At our own discretion, we may update a certain review more often - this usually happens when a broker launches a new product of significant importance or another major (both positive or negative) event related to the broker occurs. Also, investfox editorial team may decide to avoid updating unpopular broker reviews on the annual basis, since this is quite a resourceful process.
When it comes to the forex brokers review of investfox users, we only consider ten most recent reviews of our users when displaying the rating score. This is done to reflect on the latest experiences of our users rather than to consider the overall historic performance of the brokerage.
How do forex broker rankings work at investfox?
When recommending brokers to our readers, we are guided by a number of factors:
- investfox expert score
- investfox user score
- Commercial relationship (read more about this here)
- Launching date
- Your current geographical location
This means that our rankings are designed to recommend the brokers that are best rated by our experts and our users, available in your country/region, and have a sound commercial partnership with us. Often we tend to display newly established brokers in our rankings as well.
investfox rankings also utilize labels like Recommended, Top Choice and more to show certain financial trading brands above the others.
investfox forex reviews are never influenced by the commercial relationship we have with a broker - we will never rate a company's services better than they actually are, although we may display certain brokers of a lower rank first, before displaying higher ranked brokers due to our commercial relationship. This, however, is just a default order of displaying the brokers. Should a user want to access the best forex broker reviews regardless of investfox partnership conditions, it is simply possible to sort the brokers from best to worst based on either the investfox score or the user score.
How to use investfox broker filters to remove irrelevant reviews?
investfox reviews are designed to provide the most relevant overall scores for our broad audience. Yet it is clear that finding the perfect broker that matches your requirements is a different task. This is why investfox has released its powerful filters. Using these filters you can now through the forex platforms reviews of your choice simply be selecting one or more of the following filtration parameters:
- Licensing (country of regulation)
- Platforms (trading software)
- Instruments (available trading assets)
- Leverage (available trading on a margin)
Our review filters are reactive, meaning you will never end up with zero results. For example, when selecting Australia in the License filter, you will only see the software offered by the ASIC-regulated brokers in the Platforms filter field. This way, you get to build the forex brokers rating that matches every possible requirement you might.