BrokerChooser's methodology

BrokerChooser is an online broker comparison platform. We review top-tier regulated, well-established players in the financial industry, focusing on brokers. We cover more than 100 financial service providers globally by checking each of them based on over 600 data points.

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What we check

We review brokers by checking them based on the same data points and aspects, so we can compare them independently. Our data points come from hands-on experience: we opened an account and tested all providers with our real money.

AreasWhy is it important?Number of data points
FeesWe gather all the fees on all the asset types available: trading fees, non-trading fees, deposit, and withdrawal-related fees, and inactivity charges. We collect the data from the provider's site, and from customer support, and we also trade with them to check if the information is valid.359
SafetyWe check the brokers' legal background. We confirm if they are overseen by a trusted regulator and if they offer investor protection. We only feature top-tier regulated brokers. This score also indicates what additional layers are there there are to ensure the broker's safety.33
Deposit and withdrawalWe make sure you are aware of the costs, the different methods, and the time it takes to deposit and withdraw your money at the broker. We do this by depositing and withdrawing from the provider with our own money.24
Trading platformsWe test each trading platform, focusing on the user experience and specific features like placing orders, authentication options, and customizability.52
Account openingWe open real accounts with brokers and check how easy the process is, what account types are available and whether a minimum deposit is required. We also list the documents you will need to complete the process.50
Markets and productsWe check the number of markets the broker gives you access to, and the products they offer. A broker that has more product types will get a higher score.72
Customer ServiceEach customer support channel is tested personally through 8 interactions at different times, be it live chat, email, or phone.12
EducationBrokers with useful, information-packed education tools earn higher ratings. These tools may include webinars, videos, podcasts, and articles.6
ResearchWe check the research tools the broker provides, and we look for in-depth, unique, and useful tools that give you information on market sentiment, trends, tickers, and companies.9
+1 General informationIt covers areas like country of origin, which are not included in the scoring.17

BrokerChooser's data-driven methodology is based on industry standards and is always evolving based on customer insights and feedback.

Our users contribute to the methodology via multiple channels. We had 105 surveys and 46 user interviews last year.

Weight of areas in the methodology

This graph shows you to what extent each area we examine feeds into our final scores. For example, 30% of the total score depends on how competitive a broker is with regard to fees. We make small adjustments to the weight of areas based on user feedback and our expert assessment.

About our broker analysts

Our broker analyst team members come from different walks of life around the world but they are all committed to making sense of the brokerage world. Our experts bring their experience from the world of finance and have various experiences in trading, investing, brokerage, and banking.

It takes our team 7-10 days to research, write and double-check each of the reviews you see on BrokerChooser. It takes approximately 90 working hours per broker to get a quality output for every single review. In order to keep the reviews and our tools completely up to date, the whole portfolio is regularly updated multiple times a year.

Meet the expert team

Our values

BrokerChooser's core mission is to help people invest by finding the right broker for them. We built our methodology on these pillars:

  • We are independent, we are operating with total integrity. Brokers or other financial service providers do not influence our scoring by paying or pressuring us.
  • Our website reviews brokers based on the same methodology and our recommendations are unbiased.
  • We work transparently to ensure that our scores and recommendations are solely the result of our analysts’ work and are independent of our agreements with the brokers.
  • Our in-depth analysis builds on real information: we open a live account and test all products with our own money.


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