When you use our site, we write all our reviews using reliable information & data. That’s why we update our reviews at least twice a year so that any changes are reflected.
We also only review regulated brokers which hold licences from respected authorities. This is the key to keeping trading secure for everyone, which is why we take regulation very seriously.
For every forex broker review we check the following criteria:
All of these criteria are checked in detail so you can find all you need to know about a broker. Sometimes if a broker offers extra features that are worth knowing about, we will also add this to their review.
Live Account Testing
To see for ourselves how the broker operates, we open a live account with them to see how everything works. We do this anonymously so that the broker has no idea that we are testing their service. It also lets us see how the platform works in person.
We put all our findings into the final review.
Here is more detail on what we cover in each of the sections:
Regulation & Security:
Here we look at which regulation licences a broker holds and check that they are valid. This is a good way to check with a broker is secure and trustworthy.
We also look a bit at the broker’s background and where their offices are based.
Some online brokers only offer their service in certain countries. For example, not all brokers are available to residents of the USA. We have a look at where a broker can and cannot offer their services.
This is the section where we take a general look at the platform types offered and the formats. We also check the usability and layout of a platform. We also have a look at the general trading fees offered.
Assets & Financial Instruments Offered:
What assets does a broker offer? Depending on what you’re interested in trading it’s good to see what instrument types a broker has available. It is normally a mix of forex, crypto, commodities, shares, ETF’s and Indices.
In this section we examine the general account opening steps and how long the process takes. All regulated brokers will require you to have your account validated, so we discuss how you can do that in this section.
This is a key bit of information that you should know, as each broker will have a different minimum deposit amount. We look into what the amounts are and the payment methods available to use.
As a regulation requirement, all brokers must let their customers withdraw their money whenever they want to. We explain the withdrawal steps for each broker so that you can be confident about making a withdrawal anytime.
Free demo accounts are offered by most brokers, and they are a great tool to use if you’re new to trading. Here you can learn how to sign up for a demo account with the selected broker as well as the terms and conditions.
Does a broker offer any trading education tools? If they do we cover it. We look at the educational sources available and for which type of person they would be suitable for.
A key area we test is the customer support as it’s a good indication of how a broker treats their clients. We test the service ourselves to see the reaction and the level of support provided.