BrokerDir.

Our Methodology

Every broker in the BrokerDir directory receives a composite editorial score out of 5. That score is calculated algorithmically from four weighted categories, each of which is itself built from a set of discrete data points. This page explains what each category measures, which data points sit inside it, and why the weighting is set the way it is.

Trust & Regulation: 40%

Regulatory standing is the single largest factor in a broker's score because it is the most consequential thing a retail trader needs to assess before depositing funds. A broker that is not properly licensed, or that holds only offshore licences with minimal client protection requirements, represents a qualitatively different risk profile to one regulated by a top-tier authority.

Within this category we assess:

  • Licence tier. Licences are grouped into tiers based on the regulatory authority that issued them. Tier 1 regulators, such as the FCA (UK), ASIC (Australia), CySEC (EU), CFTC/NFA (US), and MAS (Singapore), apply the strictest client money segregation, capital adequacy, and reporting requirements. Tier 2 covers regulators with meaningful but less stringent frameworks. Tier 3 covers offshore jurisdictions with limited oversight. A broker holding multiple Tier 1 licences scores higher than one holding a single Tier 2 licence.
  • Number of licences. Brokers that are licensed in multiple jurisdictions demonstrate broader regulatory accountability and are more likely to be accessible to traders in a range of countries under local regulation.
  • Active status. Licence data is checked against official regulator registers. A licence that has been suspended, revoked, or allowed to lapse is not counted as active and reduces the score accordingly.
  • Client fund protection. Whether the broker participates in an investor compensation scheme (such as the FSCS in the UK or ICF in Cyprus) and whether client funds are held in segregated accounts.

Trust & Regulation carries 40% of the total score because no amount of low spreads or polished platforms compensates for the risk of trading with an unlicensed or inadequately regulated broker.

Fees & Spreads: 30%

Trading costs directly affect a trader's net profitability, so this category carries the second-largest weight. Fees are assessed across the instruments and account types that are most representative of how retail traders actually use a broker.

Within this category we assess:

  • Primary cost benchmark. The benchmark instrument used to compare spreads and costs is chosen to be the most representative for the broker's category: EUR/USD for forex brokers (the most liquid and widely traded pair), a leading crypto pair such as BTC/USDT for crypto brokers, and a standard equity commission benchmark for stocks brokers. This ensures the cost comparison reflects how traders in each category actually incur trading costs.
  • Commission model. Whether the broker uses a spread-only model or a raw-spread-plus-commission model. Where commissions apply, the per-lot or per-trade cost is factored into a total cost estimate alongside the spread.
  • Overnight financing and equivalent holding costs. For traders who hold positions overnight, financing costs can materially affect total returns. For forex brokers this means swap rates; for crypto brokers the equivalent is funding rates on perpetual contracts; for stocks brokers it covers stock borrowing costs on short positions and margin interest on leveraged long positions. Brokers with comparatively high charges in the relevant category score lower in this sub-category.
  • Non-trading fees. Deposit and withdrawal fees, inactivity fees, and currency conversion charges are recorded where disclosed by the broker. These reduce the score when they are meaningfully above the norm.
  • Minimum deposit. A very high minimum deposit restricts access for smaller retail traders and is reflected in the score.

Fees & Spreads carries 30% because cost is a primary and ongoing concern for active traders, but it is weighted below Trust & Regulation because a cheap-to-trade broker that is poorly regulated is not a net positive outcome for the user.

Platforms & Tools: 20%

The platform a broker offers determines a trader's day-to-day experience: order execution, charting, automated strategy capability, and mobile access all sit within this category.

Within this category we assess:

  • Platform availability. Whether the broker offers MetaTrader 4, MetaTrader 5, cTrader, TradingView integration, or a proprietary platform. Each widely-supported platform adds breadth and gives traders flexibility in choosing a workflow they are already familiar with.
  • Proprietary platform quality. Where a broker offers its own web or desktop platform, we assess the charting tools, order types, and usability of that platform relative to industry-standard alternatives.
  • Mobile app availability. Whether a fully-featured mobile trading application is available for iOS and Android.
  • Instrument range. The breadth of tradeable instruments across forex pairs, indices, commodities, shares, and cryptocurrencies. A narrow instrument range is a meaningful restriction for traders who want to spread activity across asset classes.
  • Automated trading support. Whether the broker supports Expert Advisors (EAs), algorithmic trading APIs, or third-party copy trading integrations.

Platforms & Tools carries 20% because platform quality matters but it is less determinative of a trader's financial outcome than regulation or trading costs.

Customer Support: 10%

Support quality is relevant but weighted lowest in the composite because it is the factor that varies most over time and is hardest to measure consistently at scale. It remains in the model because a broker that is unresponsive at a critical moment, such as during a withdrawal request or a technical failure, can cause real harm to a trader.

Within this category we assess:

  • Contact channels available. Live chat, email, and telephone support are each recorded. Brokers offering real-time support channels score higher than those offering email-only contact.
  • Support hours. The expected availability standard varies by broker category. Forex brokers are assessed against a 24/5 baseline aligned with forex market hours (Sunday evening to Friday evening UTC). Crypto brokers are held to a 24/7 standard because crypto markets never close. Stocks brokers are assessed relative to the market hours of the primary exchange they serve, with after-hours support treated as a positive signal rather than a requirement.
  • Languages supported. The number of languages in which support is offered, weighted toward languages with large retail trading populations.

How the final score is calculated

Each of the four categories is scored on a scale of 0 to 5. The category scores are then combined using the fixed weightings described above:

  • Trust & Regulation score × 0.40
  • Fees & Spreads score × 0.30
  • Platforms & Tools score × 0.20
  • Customer Support score × 0.10

The sum of these four weighted values produces the composite editorial score, which is displayed on each broker's profile and used to determine ranking order on listing pages. Because the model is algorithmic and the inputs are structured data, the same broker evaluated with the same data will always produce the same score.

For detail on where the underlying data is sourced and how broker profiles are kept up to date, see our How We Cover Brokers page. For an overview of what BrokerDir is and its editorial stance, see our About page.

Score Checkpoints

Each broker profile displays pass/fail checkpoints within each scoring category. These are discrete, verifiable data points that feed directly into the category score. The sections below explain what each checkpoint means and how it is verified.

Trust & Regulation checkpoints

  • Top-tier regulator (FCA, ASIC, CFTC, etc.). The broker holds at least one active licence from a Tier 1 regulatory authority, such as the FCA (UK), ASIC (Australia), CFTC/NFA (US), CySEC (EU), or MAS (Singapore). Verification is done by cross-referencing the broker's stated licences against the official public registers maintained by each regulator.
  • Segregated client funds. Client deposits are held in accounts that are legally and operationally separate from the broker's own operating funds. This means that in the event of broker insolvency, trader money cannot be used to settle business debts. This is confirmed from broker disclosures and, where applicable, regulatory requirements imposed by the licence holder's jurisdiction.
  • Negative balance protection. The broker guarantees that a client's account balance cannot fall below zero, even during extreme market volatility or gap events. This prevents traders from owing the broker more than they deposited and is verified from the broker's published terms and account conditions.
  • Compensation scheme (e.g. FSCS). The broker participates in a government-backed investor compensation scheme, such as the FSCS (UK, up to £85,000) or ICF (Cyprus, up to €20,000), that reimburses eligible clients up to a statutory limit if the broker becomes insolvent. Participation is confirmed through regulator registers and broker disclosures.

Fees & Spreads checkpoints

  • Raw/ECN spreads available. The broker offers at least one account type with institutional-grade raw spreads sourced directly from liquidity providers, typically alongside a separate per-trade or per-lot commission rather than a spread mark-up. This is verified from published account type specifications.
  • No deposit fee. The broker does not impose a fee when clients add funds to their account, regardless of the payment method. Deposit fees reduce trading capital before a position is even opened. This is confirmed from the broker's published fee schedule or payments page.
  • No inactivity fee. The broker does not charge a periodic fee on accounts that have been dormant for a defined period. Inactivity fees can silently erode balances for traders who pause trading activity. This checkpoint is verified from fee disclosures and account terms.
  • Transparent pricing page. The broker publishes a dedicated pricing or fees page that clearly discloses spreads, commissions, overnight financing rates, and any non-trading charges, without requiring the user to register an account to access this information. This is assessed by navigating the broker's public website directly.

Platforms & Tools checkpoints

  • MT4/MT5 available (forex brokers). For forex brokers, the checkpoint confirms that MetaTrader 4 or MetaTrader 5 is supported — the industry-standard platforms used by the majority of retail forex traders for their charting capabilities, Expert Advisor (EA) support, and widespread familiarity. Availability is confirmed from the broker's platform listing and download pages. For crypto brokers, the equivalent assessment covers whether the broker provides an exchange-native trading platform and documented API access for algorithmic and automated trading. For stocks brokers, the assessment covers the quality and feature set of the broker's proprietary desktop and mobile applications, given that MT4/MT5 are not standard in that category.
  • Proprietary platform. The broker provides its own web or desktop trading platform in addition to (or instead of) third-party platforms. Proprietary platforms are assessed for basic usability, chart tools, and order type support. Their presence indicates a broker investing in its own trading infrastructure.
  • Mobile app. A fully-featured mobile trading application is available on both iOS (App Store) and Android (Google Play), allowing traders to monitor positions, place and manage orders, and access account functions away from a desktop. This is verified by checking the app stores directly.
  • Advanced charting tools. The broker's platform offers a comprehensive charting suite, including multiple chart types, a broad indicator library, drawing tools, and multi-timeframe support, at a level that is at minimum comparable to industry-standard platforms such as MetaTrader or TradingView.

Customer Support checkpoints

  • 24/5 live chat. Real-time live chat support is accessible 24 hours a day, five days a week, aligned with standard forex market hours (Sunday evening to Friday evening UTC). This ensures traders can get immediate human or AI-assisted help throughout the entire trading week. Verified by testing chat availability at different session times.
  • Phone support. Clients can contact the broker by telephone, providing a direct, real-time escalation channel for urgent issues, such as a failed withdrawal or a platform outage, that cannot be adequately resolved through text-based channels alone. A published phone number on the broker's contact page is the baseline requirement.
  • Multilingual support. Customer support is available in more than one language, reflecting the broker's capacity to serve an international client base. Assessed from the broker's contact page language options and, where possible, confirmed through direct interaction.