How We Test

For broker reviews of 2021, nearly 100 factors across a section of important groups were tested. These groups include:

Commissions and fees

Research provided

Customer service

Platform and tools

Mobile trading

Education

Extra services

Commissions and fees, and customer service were tested. We needed to test them ourselves due to the necessity to get the facts straight. They are both complex factors and required us to see it for ourselves before making a comment. 

We noticed that many sections were much more opinion-based and so have been scored from 1-10, 1 being very bad, and 10 being optimal. Any extra services provided by the broker have also been included. Once this has been achieved, the findings are simplified into a straightforward 5 star ranking for each major group, and elaborated upon in the review.

Commissions and fees

Brokers will show their spreads and fees on their websites. The brokers are signed-up to and differences between bid and ask prices are checked live. Then, an average for the broker is created and compared to their competitors. In this scenario, the cheaper the better, so higher points are awarded for brokers with lower average prices relative to competition.

To simplify matters further, all individual account types are checked and other miscellaneous account fees are viewed over time as well as active trader or VIP benefits. This is rounded to a net ‘cost per trade’ so that you are given an all-round view for each platform.

Customer service

Each broker was asked around 3 separate questions to their customer services of varying degrees. From this, the speed of response and connection to the support representative, professionalism, friendliness, and the speed and thoroughness of resolution, could all be assessed. Furthermore, other users feedback was considered.

For customer service tests, results were separated into three main sectors. A net score is given for the overall experience with the support representative.

Once results are in, they must be weighted differently as some factors are more important than others. Response time accounts to 15% of score, speed and thoroughness of resolution is 45%, professionalism and friendliness is 20%, and the overall experience net score is 20%. 

Once each individual result has been measured, we create an overall customer service average for each broker and simplify to a star rating.

This does not constitute investment advice or personal recommendations as your specific financial circumstances have not been considered. No warranty is given in regards to the accuracy and completeness of information. Past performance is not an indicator of future results

This website and the information provided does not constitute investment advice or personal recommendations as your specific financial circumstances have not been considered. No warranty is given in regards to the accuracy and completeness of information. Past performance is not an indicator of future results. The information given is a reflection of opinion. Trading CFDs on leverage involves significant risk of loss to your capital.