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 500 data points.
Check out which broker fits your needs best by clicking here. We help you find the right broker.
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.
| Areas | Why is it important? | Number of data points |
|---|---|---|
| Fees | We 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. | 289 |
| Safety | We 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 withdrawal | We 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. | 11 |
| Trading platforms | We test each trading platform, focusing on the user experience and specific features like placing orders, authentication options, and customizability. | 43 |
| Account opening | We 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. | 15 |
| Markets and products | We 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. | 62 |
| Customer Service | Each customer support channel is tested personally through 8 interactions at different times, be it live chat, email, or phone. | 12 |
| Customer Support | Brokers with useful, information-packed education tools earn higher ratings. These tools may include webinars, videos, podcasts, and articles. | 6 |
| Research | We 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 information | It 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 75 surveys and 45 user interviews last year.
This graph shows you to what extent each area we examine feeds into our final scores. For example, 32% 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.
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.
BrokerChooser's core mission is to help people invest by finding the right broker for them. We built our methodology on these pillars:
We only feature brokers that are regulated by at least one top-tier financial authority. We think this is one of the most important aspects of safety. Nevertheless, there are other factors that we check, like the legal background, investment protection services, and financial health of a given company - this will give you even more detailed information on their safety.
No, and we never will. We feature more than 100 brokers on our website and only half of them are contracted partners. Our goal is to build a user-first product and be 100% transparent - the scores on our website strictly come from the methodology discussed above.
Our team of 10 experts is working on our reviews on a daily basis.
We update our content throughout the year continuously. We keep tabs on all of the brokers during the year, so we can incorporate any changes as soon as possible. If needed, we hold annual update work sessions to focus on improving our content.
It takes approximately 7-10 days to research a broker and approximately 90 workings hours to test the broker and create its review.