In a market that has seen so much fraud and shady practices, reliable guidance is vital for Investors.
We are committed in providing the most accurate data for every broker we review. In addition to our own industry experience and knowledge, we aggregate broker reviews and ratings from trusted third-parties.
Our vision is to create the worlds largest collection of objective, unbiased reviews and ratings for brokers - in order to help you to find the best broker for your needs.
Zeno Tonnis, Head Analyst
First of all we check where the broker is regulated, what investor protection they provide, their history and background. This information is given the highest weight.
Commissions & fees
All fees are extracted from the brokers’ sites. We check all available fees: stocks, forex, funds, etc. We look also for hidden costs within both trading and non-trading fees. Such fees can be for buying a position, holding it and selling it.
Brokers are reviewed and compared based on the number of markets and the number of products they offer. Brokers that offer a wider range of products (e.g. forex currency pairs, stocks, CFDs to Cryptocurrencies) will get a higher rating than brokers that only offer one product category (e.g. forex)
Each trading platform is tested, whether it is web-based or a desktop application. The user handling of those platforms impact the trading comfort, as well as the depth of functions, analysing tools, and customization options.
4. Deposit and withdrawal
We deposit and withdraw our money to test how the process works. The methods, costs and the time required to deposit and withdraw money are of special interest to readers. All of these are weighted. A broker that allows the use of credit cards for free is scored higher than one where only wire transfer is available, for a fee.
5. Account opening
We test the account opening process. Sometimes even the list of required documents can be unclear for you when you start to open an account. We give you information on several aspects of account opening, like the ease of the process itself, what account types are offered and the minimum deposits required.
A well-structured and quality educational section can help to make both the platform and trading itself safer and easier to understand. Brokers with useful and information-packed education tools such as webinars, tutorial videos or a demo account earn higher ratings.
8. Customer service
Each support channel is tested personally by Brokerchooser team members. Customer service scores of each broker are based on 8 meaningful interactions with support on every channel, be it live chat, email or phone.
Higher costs can be justified by a range of in-depth, unique and useful research tools. These allow you to get information on market sentiment, trends, tickers and companies. We look at all of the research tools the broker offers.
Have a question or suggestion regarding our methodology? We are eager to hear your feedback! Just send us a contact request.
Risk warning: Foreign Exchange and CFDs are complex and leveraged instruments and come with a high risk of losing money rapidly due to leverage. 60-80% of retail investor accounts lose money when trading Forex and CFDs. You should consider whether you understand how Forex and CFDs work and whether you can afford to take the high risk of losing your money.
Affiliate disclaimer: SmoothTrading.com's primary mission is to provide broker reviews, comments, and analysis that are highly objective and unbiased. Because SmoothTrading.com uses also data from industry participants, some customer reviews can sometimes be inaccurate. Operating as an online platform, this website may be compensated by third party advertisers, if visitors follow links and sign up. Regardless of such relation, we are highly committed to be neutral, handle recommendations fair and do not influence the rank of brokers due any compensation. Please see our General Disclaimers for more information.