Forex CompariZone is providing you with this scoring policy in a concentrated effort to explain the ratings and to bring you the most accurate details regarding our grading system. We believe this is specific enough to identify the differences in quality of each brand. We try our best to bring you the most accurate and the most recent details on each broker. However some of the parameters may not be available and for the meantime we will give them a score of 0.
Regulation (Possible scores: 0 or 10)
Trading with a regulated broker is one of the most important factors to consider and it is important to verify if their license is still active. Regulation helps to guarantee the ability of a broker to honor their obligations towards their clients. That means your account is protected and insured.
Demo Account (Possible scores: 0 or 5)
This feature is beneficial not just for newbie traders but also for advanced traders as well. It should have a platform that can be fully tested for full immersion and must allow practice trading in a risk-free setting.
Welcome Bonuses (Possible scores: 0 to 5)
Bonuses serve as fund extenders and these amounts can be used to making more trades so a bigger bonus will definitely give you more advantage. This will be based on the maximum rate and the highest amount that you can possibly receive.
Platform (Possible scores: 0 to 10)
Brokers use a trading platform to run the interface. What’s measured here is the speed and reactiveness of the trading software and if it does offer a favorable opportunity for you to reach your full earning potential.
Platform Design (Possible scores: 0 to 5)
Aside from the speed and responsiveness of the platform, another important factor that is included in our review is the quality of the design. Is it engaging or visually pleasing? These elements can contribute to the trading environment and atmosphere.
Mobile Trading (Possible scores: 0 or 5)
Mobile trading now plays a major factor because a lot of internet users are now doing their activities on their mobile phones and tables. Regardless if it is a dedicated mobile portal or a mobile application, what’s important is that they have a solution for traders who are always on the go.
# of Instruments (Possible scores: 0 to 5)
Most forex brokers offer a variety of tradable instruments. However, not all of them offer the same quantity but the general idea is that the more instruments available, the better so that you can have better trading opportunities.
Instruments (Possible scores: 0 to 5)
The diversity of the available instruments also plays a major factor on how much a trader can profit. If the broker can provide a range of instrument types then there’s a better chance to earn since there are more options.
Minimum Lot Size (Possible scores: 0 to 5)
A lower minimum lot size allows traders to effectively manage and control the risks since the investment can be set to a more comfortable scale. This allows traders to have more control over their finances.
Maximum Leverage (Possible scores: 0 to 5)
The ability to set a maximum leverage gives traders a better and much bigger chance to maximize the possible earnings and get access to greater financial investments without having to place the real funds.
Spread on EUR/USD (Possible scores: 0 to 5)
The EUR/USD is one of the most frequently traded currency pair in the forex market which is why we base our evaluations on the spreads that are set for this major currency pair. A lower pip value translates to lower trading costs and higher potential profits.
Minimum Deposit (Possible scores: 0 to 5)
The minimum deposit is the initial amount that is required to be placed into the account. Although theoretically, a lower amount is an added advantage, a higher deposit requirement might also result in more benefits depending on the perks of the broker.
Education (Possible scores: 0 to 5)
The education center is an invaluable resource for both new and experienced traders. It should have educational materials and other trading tools to improve your trading skills and increase your knowledge in order to become a successful trader.
Reputation (Possible scores: 0 to 10)
It is vital to go with a reliable broker with a reputation that is in tact and it’s easy to avoid the shady and suspicious brands by determining their credibility. This parameter is measured based on the broker’s standing in the market and their track record in the industry.
Support (Possible scores: 0 to 10)
A good forex and CFD broker will always have a good customer support and this can be easily measured on the quality and speed of their response to questions and requests. They should be capable of handling various customer issues and must be honest with their answers.
Editor’s Bonus (Possible scores: 0 to 10)
This is the editor’s opinion after a thorough and comprehensive evaluation has been made. The editor decides if the broker deserves the extra points based from their very own experience and objective analysis.
At the end of each scoring table you will be provided with a total score with a highest possible value of 100. We highly recommend that you carefully analyze and put a lot of consideration into these details so you can make the most concrete and guided decision on which broker to choose and sign-up with.
If you’re working for a brokerage firm and would like to provide an update regarding your company, please don’t hesitate to contact us and we will be glad to update it on our database.