Methodology

broker-rank-methodology

Your benefits as a reader

A great way to find an online broker is to search through a range of reliable and unbiased broker reviews. Broker-rank gathers information from trusted sources to deliver the best service possible.
With more than 10 years experience in finance and with feedback from traders, Broker-Rank was created to give you an unbiased evaluation of brokers. We work constantly to improve our methodology so that we can continue to offer the best service possible.

Our approach as a publisher

We review 8 core areas for all brokers. Every year, we refine our evaluation methods based on what we see and hear from you. Right now, it includes the most important criteria and activities for each broker.

After reviewing the broker thoroughly, we give the broker a temporary rating from 1 to 5 stars. This rating is being updated every time we re-evaluate the broker. 

Our core checklist

1. Trading Conditions & Fees

Trading conditions and general fees are gathered from the broker’s websites. We also check if there are any discrepancies between the theoretical fees and the actual fees. We also check the fees of all asset classes for example stocks, crypto and so on.

2. Security & Regulation

Of course, we check the regulation of the broker, the investor protection you get and the history  & background (e.g. have there been any hacks). As security should be the most important part of choosing a broker, we weigh this area heavily.

3. Deposit & Withdrawal

Having fast and reliable deposits and withdrawals is essential for every trader & investor. That’s why we not only check the available payment options, but also check the fees and execution time of withdrawals.

4. Account Types

Many brokers offer more than one account and we will present the different options in an easy to digest way. We will also present all relevant information about demo, live or inactive accounts. Additionally, we will guide you through the process of opening or closing your account.

5. Trading platforms

Depending on the platform you use, your trading results are probably different. That’s why we analyse the trading platform and check the most important features and highlight any downfalls. The platform could be dedicated to PCs, a mobile or a browser-based platform. The general user experience and specific features of each trading platform are tested by us.

6. Investment/Trading Instruments

Having a large variety of products is not necessary for most traders, as statistics show there are only a few instruments that get traded heavily. However, brokers having a wide range of products will get a better ranking than those with only a few.

7. Education, Trading & Research Tools

If the broker offers a lot of educational materials and trading/research tools, it may even offset shortcomings in other core aspects. Having a solid score here will boost our rankings.

8. Customer service

Having access to a fast and helpful service is a core aspect for every trader. That is why we check the service of the brokers and even get in touch with their support to test it first hand. 

 

FAQ - Frequently Asked Questions

How much time do you invest in one review?

It really depends on the broker as some brokers take more time than others. But in general, we test each broker thoroughly and this takes about a week.

How often do we update the reviews?

We regularly check brokers ourselves. Usually one time per month. Additionally, we also get informed by most brokers about any updates to their service.