• METHODOLOGY
  • VERSION 1.0
  • UPDATED 22 MAY 2026

How we rate brokers, scored on a 50-point system.

TradingCritique was built on a simple belief: regulation is what protects your money, and broker reviews should reflect that. This methodology turns that belief into a clear, structured scoring system designed to evaluate brokers fairly and consistently.

Explore our story, vision, and the team behind TradingCritique and see how we build transparent, research-driven broker ratings.

01

WHAT THIS PAGE IS

Our complete methodology, written down.

This page explains exactly how we rate every broker at TradingCritique. It is our complete methodology scoring system with a clear, structured, and fully transparent system, so you can see how every score is calculated.

This is version 1.0, and it will continue to evolve. Any meaningful updates will be clearly documented, with this page updated to reflect those changes. For a practical illustration of how the TC Rating criteria are used, please refer to our individual broker review pages.

WHY WE PUBLISH IT

Transparency

You can see exactly how ratings are created before trusting them.

Consistency

Writing the methodology down ensures every rating follows the same rules.

Clarity for brokers

Brokers know precisely what is being evaluated.

02

QUICK OVERVIEW

50 points, 6 pillars, three outcomes.

We score brokers out of 50 based on 6 pillars that matter to traders. This score is then converted into a TC Rating out of 10, and brokers that meet our trustworthiness threshold are awarded the TC Validated badge.

VALIDATION TIERS

Score range (out of 50)TC RatingValidation status
38 to 507.6 to 10.0 ✓ TC Validated Meets our trustworthiness bar
28 to 375.6 to 7.4 △ TC Reviewed Significant concerns documented
Below 28Below 5.6 ✕ Not TC Validated Not recommended

Six pillars, weighted by what protects you most

Bar width below shows how many points each pillar contributes to the total of 50.

Regulation 20 points · 40% of score
Trading costs 8 points · 16% of score
Security 7 points · 14% of score
Product range 6 points · 12% of score
Platform and execution 6 points · 12% of score
Support and education 3 points · 6% of score

WHAT EACH PILLAR MEASURES

PillarPointsWhat it measures
Regulation
20Regulatory licences held, enforcement record, segregation, and fee disclosure
Trading costs
8Spreads, commissions, swap rates, non-trading fees, value-adds
Security
7Above-regulatory protections, fund safety, financial stability, and account-level security
Product range
6Instruments offered for the broker's actual audience
Platform and execution
6Platforms, execution model, quality, order types, and charting
Support and education
3Support availability, response quality, and learning resources

03

CORE PRINCIPLE

The Regulation First principle.

01 OF 02

Regulation is what protects your money.

40% of every TC Rating

At TradingCritique, regulation is the most important factor in our rating system. It carries 20 out of 50 points, making it the largest part of every broker’s score and the foundation of our evaluation.

In retail trading, regulation is what protects you when things don’t go as expected, whether it is issues with withdrawals, disputes, or broker misconduct. Strong regulators can enforce compensation, revoke licences, and hold brokers accountable. Without regulation, there is no real safety net. That is why our entire methodology is built around this principle.

Even if a broker offers low commissions and excellent platforms, without proper regulation your funds carry no real protection, and that disqualifies the broker, no matter how attractive other features. However, when the broker is regulated, it follows strict requirements like segregated funds and reports to supervisory authorities.

It also means that:

    • Low regulation will prevent a broker from receiving the TC Validated badge.
    • Any actions regarding regulatory requirements will reduce a broker’s score.

 

In other words, regulation is a primary parameter, because it protects your assets.

EDITORIAL COMMITMENT

Without regulation, there is no real safety net. That is why our entire methodology is built around it.

04

CORE PRINCIPLE

The principle of verifying what brokers serve.

02 OF 02

We score brokers on what they actually offer.

Not against an idealised checklist

This is our second core rule, alongside the regulation-first approach. It guides how we score the remaining parts of a broker review and keeps our evaluation fair. The idea is simple: we rate brokers based on what they actually offer, not on an ideal list of features.

Every broker is built for a different type of user. Some focus on long-term investors and beginners, while others are designed for active traders. Because of this, it does not make sense to judge all brokers using the same checklist.

This principle did not exist when we started. During our second broker scoring, we caught ourselves penalising a broker for features outside its actual audience. We stopped, corrected the approach, and made this a foundational rule. The methodology got better because we were honest about getting it wrong.

For example, a long-term investment platform should not lose points for not offering MetaTrader. In the same way, a CFD broker is not penalised for not providing ISAs or fractional shares. A discount stockbroker is also not judged based on leverage features meant for high-risk trading.

However, concerns about regulation, segregation, fund safety, financial stability, and operational integrity apply universally to every broker we rate, regardless of audience. A broker cannot escape regulatory scrutiny by claiming to serve a different trader type. With this principle, we apply our standard 50-point framework to evaluate brokers consistently across all key areas.

05

THE FRAMEWORK

THE 50-point framework, pillar by pillar.

This is the backbone of how TradingCritique scores every broker. Instead of relying on opinions or surface-level features, we break everything down into 6 structured pillars, each with fixed weights and clearly defined criteria.

PILLAR 01

Regulation

20/50 point

Tier-1 licences 8 pts

Includes top regulators like FCA, ASIC, SEC, FINRA, FINMA, and more. Brokers with clean, long-term licences score the highest.

Tier-2 licences 3 pts

Covers second-tier regulators like CySEC, KNF, FSA Japan, and FSCA. Brokers regulated only by Tier-2 authorities score lower than those with
Tier-1 oversight.

Operating history and transparency 3 pts

Assesses years in operation, ownership clarity, and financial disclosures. Publicly listed brokers score higher.

Enforcement and regulatory incidents 3 pts

Points are deducted for enforcement actions within the last 5 years, with major violations having a long-term impact.

Segregation and disclosure 3 pts

Evaluates how securely client funds are held and how clearly fees are disclosed, with higher scores for full transparency.

PILLAR 02

Trading costs

8 / 50 points

Spreads 2.5 pts

Measures how competitive spreads are within the broker's target market, not against all brokers globally.

Commissions 1.5 pts

Assesses clarity, fairness, and any volume-based pricing tiers.

Swaps 1.5 pts

Evaluates overnight financing rates (swaps) and swap-free account availability for Islamic clients.

Non-trading fees 1.5 pts

Covers deposit, withdrawal, inactivity, and currency conversion fees, including how smaller accounts are treated.

Value-adds 1 pt

Includes benefits like cashback, rebates, interest on idle funds, and VIP programs.

PILLAR 03

Security

7 / 50 points

Above-regulatory insurance 2 pts

Checks if the broker offers additional insurance beyond standard compensation schemes, especially for offshore clients.

Negative balance protection scope 2 pts

Assesses whether protection applies to all clients, not just where it is legally required.

Fund segregation practices 1.5 pts

Evaluates how securely client funds are held and how transparently this is disclosed.

Financial stability 1 pt

Reviews financial strength, including profitability and overall business stability.

Account security 0.5 pts

Covers security features like two-factor authentication, biometrics, and encryption.

PILLAR 04

Product range

6 / 50 points

Forex 1 pt

Measures the number and diversity of currency pairs available for trading.

Non-Forex CFDs 2 pts

Covers the range of other instruments such as indices, commodities, and stocks.

Leverage 1 pt

Assesses flexibility in choosing leverage levels based on trading needs.

Specialty products 1 pt

Includes features like spread betting, swap-free accounts, fractional shares, and copy trading, based on relevance to users.

Accessibility 1 pt

Evaluates ease of entry, including minimum deposits, micro lot sizes, and base currency options.

PILLAR 05

Platform and execution

6 / 50 points

Platform quality 1.5 pts

Assesses usability across web, desktop, and mobile, including stability and user experience.

Proprietary tools 1 pt

Reviews unique tools and features that add value beyond standard charting.

Execution quality 1.5 pts

Measures order execution speed, reliability, trading model, and slippage transparency.

Order types 1 pt

Evaluates the availability of advanced order types such as guaranteed stop loss, OCO, and trailing stops.

Charting and algorithm 1 pt

Assesses charting tools, analytical features, and support for automated trading.

PILLAR 06

Support and education

3 / 50 points

Availability 1.5 pts

Measures the range of support channels, working hours, and language options offered to traders.

Quality 0.75 pts

Assesses how quickly and effectively the support team responds to queries and resolves issues.

Education 0.75 pts

Reviews the quality of learning materials, in-house research, and integration with the platform.

06

MULTI-ENTITY BROKERS

How we handle brokers with multiple entities.

Most major brokers operate through multiple entities across different regions. A single broker group may hold licences from regulators like the FCA, ASIC, and CySEC, along with offshore entities. Your protection depends on the specific entity you are assigned to, not the one the broker promotes.

Group-level rating, not per entity. At TradingCritique, we look at the broker’s overall regulatory strength, not just one entity. If a broker holds multiple strong licences, it shows better credibility, and we reflect that in our score.

Every review includes a regulator check table. Each review shows all entities, regulators, and regions, so you know where your account will be held.

Why a single rating. Assigning separate ratings for each entity would create dozens of scores per broker, making cross-broker comparison confusing and less meaningful.

You can still verify your entity. A single rating, combined with a transparent regulator check table, provides a clearer overall picture while still allowing you to verify the protections of your specific entity.

07

ENFORCEMENT RULES

How we treat regulatory actions.

Regulatory actions tell you whether a broker has been held accountable. Not every fine or warning has the same weight, and not every issue should permanently damage a broker’s standing. here is how we treat enforcement records in our scoring.

RULE 01

5-year rolling window

We only score enforcement actions from the last 5 years, counting from the review date. Older issues may be mentioned for context but do not affect the score.

RULE 02

Major violations are permanent

Serious cases such as fraud, fund misuse, licence revocation, or operating without regulation remain on record permanently, unless the broker has operated under entirely new ownership for 10+ years with a clean record.

RULE 03

Minor breaches expire

Small procedural issues like late filings older than 2 years are noted where relevant but do not penalise the score.

RULE 04

Overturned fines are not counted

If a court cancels a fine, we do not penalise the broker. It may still be disclosed for transparency, but it does not affect the score.

RULE 05

Operational issues are separate

Platform outages or technical problems are not regulatory violations. These are evaluated under platform performance, not regulation.

08

SCORE CALIBRATION

How we assign points

We follow 2 clear principles when assigning points to each broker.

PRINCIPLE 01

Full marks for meeting standards

If a broker delivers what is expected for its category and there are no issues, the broker gets full marks. We do not reduce points just because another broker offers more.

PRINCIPLE 02

Deduction only for real issues

We only reduce points when there is a clear issue. This includes:

  • Missing key features expected in its category
  • Proven client-harm incidents
  • Regulatory actions
  • Lack of transparency

We do not deduct marks for small gaps. If something is not fully verified, we mark it as noted rather than penalise it.

09

SOURCE VERIFICATION

Every claim traces back to primary sources

Every score we give is backed by real and verifiable sources. If a claim affects a broker’s rating, it must come from a primary source, not other websites. Broker ratings fall under your money, your life. If we say a broker was fined, that statement must come directly from the regulator, not a forum or a copied review.

✓ ACCEPTED AS PRIMARY

  • The broker’s own official disclosures
  • Regulator registers and announcements
  • Reuters, Financial Times, Bloomberg
  • Finance Magnates, FX News Group, Finance Feeds
  • Major national press outlets

✗ NOT ACCEPTED

  • Wikipedia
  • WikiFX
  • Forums and Reddit threads
  • YouTube and social media claims
  • Other broker review sites

If we cannot confirm a claim from a primary source, we do not guess. We mark it as noted. That means it can add context, but it will never be used to deduct points. If a deduction is later found to be based on an unverified claim, we reverse it. This approach takes more time and effort, but it is the only level of accuracy we are willing to publish.

10

OUT OF SCOPE

Four things we deliberately do not score

A reliable broker rating focuses only on what truly matters. We clearly define what is included and what is not. This keeps our scoring methodology fair, simple, and focused on value for traders.

Subjective preferences do not count

Personal opinions like which platform looks nicer do not affect scores unless they are backed by objective testing.

Different-category features are not penalised

We do not compare brokers unfairly. A CFD broker is not marked down for not offering ISAs, and a stock platform is not expected to provide high leverage.

Unverifiable marketing claims do not matter

Claims such as “award-winning support” are ignored unless the award can be independently verified.

Regulatory limitations are not broker faults

If a regulator restricts a feature, it does not impact the score. For example, if the FCA bans crypto CFDs, FCA-regulated brokers are not penalised for complying.

11

BROKERS WE DON’T RATE

When we decline to assign a TC Rating

Not all brokers qualify for a TC Rating. If a broker falls below our trust standards, usually due to a lack of regulations, serious violations, or other concerns, we may choose not to rate it. We still publish a review so traders can access clear and honest information.

No TC Rating” is stated clearly. These reviews are strictly informational with no promotions, affiliate links, or recommendations.

Excluded from best-broker lists. Non-rated brokers are also excluded from our best-broker rankings and related editorial content.

Visible in the comparison tool. Non-rated brokers may appear in our comparison tool, but they are always labelled as “not TC Rated”, so readers see our editorial position at every comparison.

This approach keeps the badge meaningful. Full transparency on which brokers we will not validate keeps the TC Validated badge worth something.

12

LIVING METHODOLOGY

This framework will keep evolving

This framework is built to grow over time. We are currently on version 1.0, and it will continue to improve as we evaluate more brokers and encounter new scenarios.

When there is a meaningful change, we update this page, increase the version number, and rescore affected brokers. We do not change rules without updating past scores. We do not change rules quietly, and we do not grandfather in scores that no longer make sense.

LOOKING AHEAD TO V2.0

Areas under active refinement

  • Handling brokers offering both CFD and non-leveraged products
  • Adding transparency factors like public listing
  • Better clarity on offshore entities
  • Adjusting scoring weight based on patterns from accumulated data

OUR EDITORIAL COMMITMENT

We do not adjust ratings for affiliate deals, advertising, or commercial pressure. Every TC Rating is independent, evidence-based, and defensible from primary sources.

13

CHALLENGE A RATING

How brokers can contest a score

Disagreement is fine. We expect it. The process is the same for every broker, regardless of affiliate or commercial relationship. We welcome challenges to our ratings when they are backed by clear and verifiable evidence.

Raise the concern

Email [email protected] with your concern.

Specify the claim

Clearly mention the exact rating point or claim you disagree with.

Provide evidence

Share a primary source: regulatory filing, broker disclosure, or audited report.

Our verification

Our team checks the claim using both your source and our own research.

Our decision

If your evidence holds, we revise and disclose. If not, we share the reasoning.

Editorial contact: [email protected]. We typically respond within 5 working days.

14

AT A GLANCE

TC Rating criteria, in numbers

50

Total points per broker, across 6 weighted pillars

40%

Regulation's weight in every TC Rating

38+

Minimum score for the TC Validated badge

5

Year rolling window for minor enforcement actions

We rate the broker out of 50 points across 6 core pillars, with regulation carrying the heaviest weight at 40% as the foundation of every score. The remaining points assess how well a broker delivers on what it actually offers. A broker earns TC Validated status at 38+ points.

Each broker receives 1 group-level rating, supported by a clear regulator check table. Scoring is done using only primary sources. Minor regulatory issues follow a 5-year rolling window, while major violations are kept on record permanently. Our living methodology is regularly revised, and when there is an update, affected brokers are re-scored.