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Our Methodology

How we rate and review brokers

At BrokerCheck, we understand the importance of finding the right brokerage for your needs. Our mission is to make the process of selecting a broker as straightforward and informative as possible. We do this by providing objective reviews and comparisons based on our own live testing, ensuring our users receive unbiased and reliable information. Our authors are experts in what they do, and the content of our website proves it.

Objectivity

Our evaluations are completely independent of any financial compensation from brokerages, ensuring our reviews and comparisons are unbiased.

Data-driven

We thoroughly examine the most important aspects of each brokerage.

Continuous improvement

We continuously update our recommendations and refine our evaluation process to ensure our users have access to the most current information.

User-focused

We prioritize the most important criteria for our users, such as low fees, strict regulation, and user-friendly trading platforms.

Main Areas of Evaluation

  • Fees and costs

    We gather information on fees directly from the brokers’ websites and check all fees that apply to each asset class. We uncover hidden costs and calculate the fees for buying a position, holding it for a week, and selling it.

  • Security and regulation

    We investigate the legal backgrounds of brokers, check whether they are overseen by a trusted regulator and whether they offer investor protection. Deposit and withdrawal options: We check the costs, methods, and the time it takes to deposit and withdraw money from the broker.

  • Trading platforms

    We test each trading platform, focusing on the overall user experience as well as specific features such as order placement, authentication options, and customization.

  • Account opening process

    We evaluate the ease of opening an account, the types of accounts available, and whether a minimum deposit is required.

  • Product offerings

    We assess the number of markets they provide access to and the products they offer.

  • Customer service

    We personally test each customer service channel, trying all available channels at different times.

  • Education and resources

    We evaluate the quality and structure of the educational content offered by the broker.

To ensure the accuracy of our information, we anonymously open real accounts at each brokerage and deposit real money to test their services in these key areas. Our goal is to help you find the agency that best suits your needs and enable you to make a decision with informed knowledge.