We score brokers with a published formula applied to structured data about each legal entity. Nobody can edit a score by hand, and commissions paid to this site are not an input. This page describes methodology version 1.0.
What is the Trust Score?
The Trust Score is a number from 1 to 99 that measures how well a broker is regulated for a reader in a given country. It is calculated separately for each country, because the legal entity that serves you depends on where you live.
| Component | Maximum points | How it is calculated |
|---|---|---|
| Serving entity | 45 | Best regulator tier of the entity that serves your country: tier 1 = 45, tier 2 = 34, tier 3 = 16, registration only = 6, none = 0 |
| Group licences | 26 | 8 points for each distinct tier 1 regulator in the group (up to 24) plus 2 for each tier 2 regulator (up to 6), capped at 26 |
| Company structure | 12 | 8 points if the company or its parent is publicly listed, 4 if it holds a banking licence |
| Track record | 12 | 0.8 points per year since founding |
| Penalties | −15 | 5 points off for each regulatory penalty on record in the last five years |
How do you group regulators into tiers?
We group regulators by the protection a retail client receives. The grouping is our editorial judgement; each regulator page shows its tier, and the reasoning is in regulator tiers explained.
How is the overall rating calculated?
The overall rating out of 5 is a weighted average of eight criteria. A rating is published only when criteria worth at least 70% of the total weight have been assessed. Until then the review shows the Trust Score and states how much has been assessed.
| Criterion | Weight |
|---|---|
| Trust and regulation (Trust Score) | 30% |
| Trading costs, measured | 25% |
| Platforms and execution | 15% |
| Deposits and withdrawals | 10% |
| Accounts and products | 8% |
| Customer support | 5% |
| Education and research | 4% |
| Verified user feedback | 3% |
Trading costs count only when we have measured them ourselves. Advertised spreads are shown in reviews and labelled as advertised, and they do not enter the rating.
Which brokers can appear in ranked lists?
A broker appears in ranked lists and in Find My Broker only if its group holds at least one active tier 1 or tier 2 licence. In countries where only locally licensed firms may serve residents, we show only brokers with a local licence.
Where does the data come from, and how is it checked?
Entity names and licence numbers are collected from brokers’ legal documents and regulators’ public registers. Each licence row carries one of two labels. “Verified” with a date means a member of our team has confirmed the entry on the regulator’s register. “Not yet verified by us” means the row has not been through that check.
What is the difference between a desk review and a tested review?
A desk review is based on public information. A tested review means we opened an account and recorded our own deposits, withdrawals and spreads, and it shows the date of the test. Every review states which kind it is.
How often are scores updated?
Scores are calculated from the current data each time a page is built, and a daily job stores a snapshot whenever a score has changed. The data changelog at the foot of each review lists what changed and when.
What are the limits of this method?
The Trust Score does not measure execution quality, customer service or cost. It relies on public records, which can lag behind events. It is an aid to your own checks, not a recommendation to open an account.