Our Methodology

1. Regulation & Licensing (40%)

Requirement:

Must hold at least one Tier-1 license from:

• FCA (UK)
• ASIC (Australia)
• CySEC (EU)
• MAS (Singapore)

Tier-2 regulators (e.g., FSCA, DFSA) accepted only if paired with Tier-1.

Verification Process:

• Cross-check registration numbers on regulator websites.
• Confirm no pending investigations or fines (>$100K) in past 3 years.

❌ Automatic Fail: Offshore-only licenses (e.g., SVG, Vanuatu). "Regulated" claims without public verification.

2. Fund Safety (30%)

Requirements:

• Segregated accounts with Tier-1 banks (e.g., Barclays, HSBC).
• Compensation schemes (e.g., FSCS up to £85K, ASIC up to AUD 500K).
• Audited financials proving capital adequacy (e.g., >$10M equity).

Testing Method:

• Demand bank account statements (sample provided anonymously).
• Verify client fund protection clauses in terms.

❌ Automatic Fail: Comingled accounts detected. No compensation scheme for retail traders.

3. Testing Period & Data Collection (20%)

Minimum Standards:

• 3 months of live testing (real accounts, $5K+ balance)
• 500+ executed trades per asset class
• Volatility sampling: Must include:
  • NFP releases
  • Central bank announcements
  • Asian/London session overlaps

Data Transparency:

• Publicly share spread logs, execution reports
• Provide raw trade receipts upon request

❌ Automatic Fail: Refusal to share testing data. Demo accounts used for critical metrics.

4. Transparency & Ethics (10%)

Requirements:

• Clear pricing: All fees disclosed in USD/EUR equivalents
• No misleading claims:
  • "Zero spread" must show real commissions
  • "Instant withdrawals" defined as <2 hours
• Risk warnings: Prominent display of leverage risks

Audit Process:

• Mystery shopping for hidden fees (e.g., inactivity, currency conversion)
• Cross-check 10+ marketing materials for consistency

❌ Automatic Fail: "Free bonus" with impossible withdrawal terms. Obfuscated swap rates.

1. Safety Check (30%) 🔒

"Is my money safe here?"

We dig into:

• Licenses (20%): Only FCA/ASIC-regulated brokers get full points
• Fund Protection (10%): Segregated accounts? Compensation schemes?
• Red Flags: Any fines or shady history? Automatic disqualification

What we hate:

❌ Brokers that "forget" to mention they're unregulated (0% score here)

2. Trading Costs (25%) 💰

"Will they nickel-and-dime me?"

We measure:

• Spreads (15%): Under 0.5 pips = 👍 | Over 1.5 pips = 👎
• Commissions (5%): More than $5/round trip? Points lost
• Execution (5%): Frequent requotes/slippage? Big deduction

Pro Tip:

We place real trades during news events to catch sneaky brokers.

3. Trading Platforms (20%) 🖥️

"Is their software stuck in 2010?"

We test:

• Platform Stability (10%): MT4/MT5 crashes? Points vanish
• Mobile App (5%): Can you actually trade on the go?
• Extra Tools (5%): TradingView? Algos? Bonus points

Fun Fact:

Some brokers' "advanced platforms" are just MT4 with a skin. We call them out.

4. Deposits/Withdrawals (10%) ⏳

"Will I get my money back?"

The good (full points):

• Withdrawals in <24 hours (5%)
• Zero hidden fees (3%)
• Crypto support (2%)

The bad:

"7-10 business days" to access your profits (🚩 Instant point loss)

5. Customer Support (10%) 🎧

"Will they ghost me when I need help?"

Our secret test (and scoring):

• 24/7 live chat (5%)
• <1-hour email response (3%)
• Dedicated account manager (2%)

Green flags:

• ✅ Answers in <15 minutes
• ✅ Knows what "slippage" means

6. Real Trader Reviews (5%) 📢

"What's the vibe online?"

We scan (and score):

• 4+ star average rating (3%)
• Low complaint volume (2%)

Sneaky broker trick:

Some pay for fake 5-star reviews. We spot them.