At Tradingpedia, traders can see our selection of reputable brokers that target different trader types, including beginners, experienced traders, and professionals. Our team of experts relies on the following methodology to rank the brands on Tradingpedia’s website, relying on a thorough evaluation of all key aspects that contribute to a proper trading experience. In each broker review, we highlight the following factors:
- Regulation
- Reputation
- Available trading instruments
- Trading Platforms
- Payments
- Trading Cost
- Account Types
- Customer Support
The total score for for all factors is 10. Every factor has different weight as follows: Regulation – 2; Reputation – 1.5; Available Trading Instruments – 1; Trading Platforms – 1.5; Payments – 1; Trading Cost – 1; Account Types – 1; Customer Support – 1.
Regulation (weight: 2)
As we cater to a global trader audience, we make sure to evaluate brokers, considering traders from different parts of the world. This is why we check the full list of authorities regulating each broker, confirming the validity of their respective licenses. Since we are aware of the tighter restrictions across Europe, Australia, the US, and other regions, we rank higher brands, that are following regulatory guidelines imposed by authorities of the likes of CySEC, FCA, ASIC, and other tier-1 regulators.
Reputation (weight: 1.5)
Since we are all about transparency, we also consider feedback from real traders. We display the current Trustpilot score of each broker, corresponding to the reviews given by real customers of each brand. This allows a proper reputation assessment by highlighting the strengths and weaknesses of brokers we have reviewed on our page.
Available Trading Instruments (weight: 1)
At Tradingpedia, we are well aware of the preferences of different traders, with some looking for specific instruments, while others wish to diversify their portfolios. That is why we cover the full range of markets and tradable instruments available at each online broker. We tend to place brokers with a wider selection of tradable assets higher, as they offer traders a more extensive choice of products to add to their trading portfolios. While some brokers focus on Forex and CFD trading, others offer different ways to trade and invest in some products. We make sure to include the full range of tradable options in each broker review.
Trading Platforms (weight: 1.5)
Yet another factor that contributes to our ranking system is the range of trading platforms supported by each broker we have reviewed. MetaTrader 4 (MT4) and its successor MetaTrader 5 (MT5) are probably the most well-known platforms among the majority of traders so we do appreciate a broker that has adopted either one or both platforms. Of course, we also give extra points to brokerages that offer advanced options like cTrader or TradingView, giving access to in-depth charting and analytical tools. We also give brands a higher rank if they offer proprietary platforms, as long as they are user-friendly and offer advanced trading for different types of traders. Multiple device compatibility is definitely another feature we consider when evaluating trading platforms adopted by brokers.
Payments (weight: 1)
Another key aspect of our methodology for broker rankings includes payments. In this category, yet again, the Tradingpedia team considers the needs of our global audience, listing payment solutions that are available to traders from different regions. Minimum deposit requirements, time for payment processing, and fees associated with topping up your trading balance are some of the key aspects we consider during our evaluation process. Since money transactions also include withdrawals, we make sure to cover the payout option at each broker, giving more points to brands that facilitate fast withdrawals, with zero or very low fees charged on transactions.
Trading Cost (weight: 1)
One of the most important factors during our broker performance review is the overall trading cost. Spreads, commissions, swaps, and non-trading fees are all taken into account while we calculate the overall performance score of each brokerage. While zero commissions are highly appreciated, we mostly consider brokers with tight spreads to be top performers in the trading field, giving them higher scores for offering low-cost trading to their clients.
Account Types (weight: 1)
Most brokers allow their customers to choose from several account options, which is why we consider pricing models, supported instruments, and various perks available across all account offerings at online brokers. If brands cater to the preferences of different traders, offering micro trades, high-volume trades, swap-free trading, and other perks available on various account options, we tend to give brokers extra points. Demo accounts and professional accounts are also considered advantages that we take into account when reviewing the brokers on our website.
Customer Support (weight: 1)
Last but definitely not least, we evaluate the customer care of each brand we review. Multiple communication channels and round-the-clock customer support are definitely things we believe deserve a higher ranking. Multiple-language support and timely responses are also recognized by the Tradingpedia team as factors that are worth extra points during the performance review process.
All the aspects above are part of Tradingpedia’s broker ranking methodology. Not only is our team adamant about thoroughly inspecting each broker reviewed on our page, but we also do regular broker re-evaluations to keep our ratings relevant and up-to-date.