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Our Review Process

FX Scouts By Jeffrey Cammack Updated: December 12, 2019

Our broker comparison rankings intend to bring transparency to the Forex trading market, where it can often be difficult for new traders to see what differentiates one broker from another.

The results of our research are published in the State of the Forex Market Report, a detailed breakdown of our broker ratings which is designed to help new traders find the most reliable and best-value brokers in the world. Brokers are always altering the products they offer, and we endeavour to keep our reviews updated with the latest data available.

We have done the research. You choose your broker.

We maintain accounts at every broker we review to continually monitor their performance, processes and trading conditions. While we have reviewed most popular brokers, we also include those which we have not reviewed. Some brokers may be missing from the list; this could be for one of two reasons.

  1. We don’t consider the broker to be a good option for traders, but still, want to include them in our directory
  2. We do not have our review available in your language yet. We are still in the process of translating all our reviews.

In either case, we will indicate why a review is missing.

How We Review Brokers

We rate brokers on seven different areas, each of which comprises multiple data points, and the highest score a broker can receive in each area is a 5. Each of the areas has a weighting, which we use to calculate a final score for each broker. The areas and the weightings are as follows.

  • Trust and Reputation – 20%
  • Trading Conditions – 20%
  • Platform and Tools – 17.5%
  • Assets Available – 12.5%
  • Deposit and Withdrawal – 10%
  • Education and Research – 10%
  • Customer Support – 10%

More detail on how we review each of these areas can be found on the State of the Market Report page.

Broker Directory

Our broker directory includes brokers whom we have not reviewed, but which remain an option for traders. Our directory is intended as a research tool for anyone seeking a professional opinion; if your current broker has not been evaluated by us we hope that our selection of reviewed brokers will offer you a better-regulated and superior alternative.

How can you help us?

Forex trading has a reputation for being a dishonest industry, and this notion is perpetuated by the corrupt players which still exist in the marketplace. We ask those who feel they have fallen victim to an unethical or criminal broker to complete our scam broker report so we can keep a record.

We regularly receive emails from individuals who have questions about how to get money back from brokers, or so-called professional Forex traders, who have cheated them.

Affiliate Disclosure

FX-Australia is a reader-supported magazine. When you sign up for an account through our links, we sometimes earn a commission, which enables us to continue making our website better for you, and continue our work.

We pride ourselves on our recommendations.
We never partner with bad brokers.
We always put you first.

Our business model never influences our opinion of any partner, and where our partner selection and review processes are separate. The compensation we receive from partners may affect how our lists are arranged, but the reviews are genuine, and the data is accurate. Our opinion can not be bought, and we always put our readers and their financial livelihoods first.

To read more about who we are, and how we work, read our about us page.

 

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.