Our goal is to rank retail trading brokers in a way that is transparent, evidence-based, and repeatable. We combine hands-on testing with structured audits to produce comparable scores across regions and legal entities. Safety, Trust & Regulation are the primary factors in our framework.
1) Scope & Eligibility
- Retail brokers offering forex/CFD, multi-asset, crypto-CFD, or securities.
- Clear disclosure of legal entities and regulatory licences.
- Live and/or demo environments available for testing.
- No unresolved regulatory bans, insolvency, or active sanctions.
2) Categories & Weights (Overall score = 100)
Weights reflect what matters most to traders, with Safety, Trust & Regulation weighted highest.
| Category | What we measure | Weight |
|---|---|---|
| Safety, Trust & Regulation | Regulatory tiering, investor protection, client-fund segregation, ownership/audit transparency, legal clarity, regulatory history | 30 |
| Fees & Costs | Spreads, commissions, swap/financing, currency conversion, deposit/withdrawal & inactivity fees, fee transparency | 22 |
| Platforms & Tools | Web/desktop/mobile UX, order types, charting depth, depth of market, algo/copy support, reliability | 12 |
| Order Execution & Quality | Fill speed, slippage versus quote, rejections, partial-fill handling; disclosed execution statistics | 10 |
| Tradable Markets | Asset-class breadth (FX, indices, commodities, stocks, crypto-CFDs) and symbol depth per class; real shares/ETFs where applicable | 8 |
| Account Types & Terms | Min deposit, base currencies, leverage by region, Islamic/professional/demo availability, T&Cs clarity | 6 |
| Funding & Withdrawals | Methods, measured processing times, fees, limits, supported currencies | 5 |
| Customer Support | Channels, languages, hours, first-reply and resolution times from testing | 5 |
| Research & Education | Originality and depth of market analysis; quality and frequency of courses, webinars, and platform tutorials | 2 |
3) Data Collection: Live, Scripted & Repeatable
- Live account testing: Open and fund at least one live account per licenced entity/region where possible; otherwise, demo plus verified documents.
- Scripted fee captures: Snapshot spreads/commissions during London and New York sessions on a fixed symbol set (EUR/USD, GBP/USD, XAU/USD, US100, UK100, WTI). Test each account type where pricing varies.
- Execution checks: Place market and limit orders in normal (non-news) conditions; record fill speed, slippage versus last tick, rejections, and partial fills.
- Funding flows: Perform at least one deposit and one withdrawal per entity on common methods; log timing and fees.
- Support tests: Run scripted queries across chat, email, and phone at different hours; measure first response and resolution quality.
- Disclosure audit: Verify legal entities, licences, negative balance protection, risk warnings, and all fee pages.
4) Scoring Rubrics
Safety, Trust & Regulation (30)
- Regulatory tiering: Tier-1 (e.g., FCA/ASIC/IIROC/MAS/SEC/CFTC/BaFin/AMF), Tier-2 regional, Tier-3 offshore; weighted ladder.
- Investor protection: Scheme coverage (e.g., FSCS/ICF), client money segregation, audited financials, ownership clarity.
- Regulatory history: Material fines, warnings, or enforcement actions reduce the score.
Fees & Costs (22)
- Spread/commission: Median of session snapshots versus peer median.
- Swap/financing: Long/short across three core pairs versus peer median.
- Non-trading fees: Funding, inactivity, conversion.
- Transparency: Completeness, clarity, and accessibility of fee schedules.
Platforms & Tools (12)
- Coverage across web/desktop/mobile, stability, advanced order types, charting, algorithmic and copy features, and login security.
Order Execution & Quality (10)
- Average slippage, fill speed, rejection rate, partial-fill handling, and presence/quality of disclosed execution statistics.
Tradable Markets (8)
- Number of asset classes, symbols per class, and availability of real shares/ETFs where applicable.
Account Types & Terms (6)
- Minimum deposit, base currencies, leverage caps by region, pro/Islamic/demo availability, and clarity of terms and conditions.
Funding & Withdrawals (5)
- Available methods, measured processing times, fees, limits, and supported currencies.
Customer Support (5)
- Contact channels, language coverage, service hours, first-reply and resolution times as measured in testing.
Research & Education (2)
- Depth and originality of research; cadence and quality of educational content (courses, webinars, tutorials).
5) Regionalisation & Comparability
- We publish entity-specific scores (e.g., EU vs AU vs offshore) where terms differ by jurisdiction.
- “Best for UK/EU/…” lists include only entities legally serving that audience under local rules.
- Disclosures clearly state which legal entity and licence the score refers to.
6) Aggregation Formula
OverallScore(broker) = Σ wi × scorei(broker), where Σ wi = 100. Category subscores are shown and the overall score is rounded to one decimal place.
7) How We Keep It Fair
- Editorial independence: Commercial relationships do not affect scores or rankings.
- Hands-on first: If claims conflict with our tests, test data prevails; we invite broker comments before publication of material changes.
- No pay-for-placement: Advertising may affect visibility, never the rating.
8) Update Cadence
- Rolling updates for pricing, platform, product, or regulatory changes.
- Full retests at least annually for each covered legal entity.
9) User Feedback & Complaints
- We accept user submissions with evidence (screenshots, statements). Verifiable, material issues can trigger an out-of-cycle review.
- Repeated, corroborated problems impact the relevant category score.
- You can send feedback or complaints directly to info+userfeedback@rationalfx.com.
- We also consider independent sources such as Trustpilot and Google reviews, weighting them where claims are specific, verifiable, and supported by consistent patterns rather than isolated anecdotes.
10) Evidence Pack (Internal)
- Account opening timestamps, KYC screens, and contracts.
- Time-stamped pricing CSVs, order logs, slippage tables.
- Funding receipts and redacted bank statements.
- Support transcripts and service-level sheets.
- Licence screenshots and official registry links.
11) Special Cases
- Prop firms and copy-only apps: Scored under separate frameworks; excluded from broker league tables.
- Crypto spot exchanges: Different execution/fee model; ranked in separate tables.
12) Risk Disclosure
Trading leveraged products involves significant risk and may not be suitable for all investors. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money. Where applicable, negative balance protection and investor compensation schemes may vary by legal entity and jurisdiction.