How We Rate Brokers

Overview

At BrokersSelect, we test every broker by opening real trading accounts, testing live spreads, verifying regulatory licenses, and evaluating platforms. Our reviews are updated monthly to ensure accuracy.

We use a weighted scoring system that emphasizes fees, regulation, and platform quality to help you find the best broker for your trading needs.

Score Weights

Safety & Regulation

We verify all regulatory licenses with the relevant authorities (FCA, ASIC, CySEC, FSCA, etc.). Brokers with multiple licenses and strict regulatory oversight receive higher scores.

We check for any regulatory warnings, enforcement actions, or complaints filed against brokers.

Fees & Pricing

We test live spreads on major currency pairs during different market sessions. We also analyze commission structures, withdrawal fees, inactivity fees, and any hidden costs.

Lower spreads and transparent fee structures result in higher scores.

Platforms & Tools

We evaluate trading platforms (MT4, MT5, cTrader, proprietary) for usability, features, charting tools, and mobile app quality. We test execution speeds and order types.

Brokers offering multiple platform options and advanced tools score higher.

Products & Markets

We assess the range of available instruments: forex pairs, stocks, indices, commodities, cryptocurrencies, and other CFDs. Brokers with wider market coverage receive higher scores.

Customer Support

We test response times via live chat, email, and phone. We evaluate support quality, availability (24/7 vs business hours), and language options.

Faster response times and multilingual support improve scores.

Update Cadence

We refresh all broker reviews monthly to ensure information is current. We monitor changes in:

• Regulatory status and licenses
• Fee structures and spreads
• Platform updates and new features
• Market availability and instruments
• Support channels and response times

Last updated:

Disclosures

BrokersSelect is an independent review site. We may receive compensation when users click on affiliate links to brokers, but this does not influence our reviews or rankings.

We maintain editorial independence and always prioritize accuracy and transparency. Our scoring methodology is applied consistently to all brokers.

We test brokers by opening real accounts and using our own funds. We do not accept payments from brokers to improve their ratings or rankings.