Broker Scoring Methodology
FXENA evaluates forex brokers using a transparent, data-driven scoring system. This page documents exactly how our scores are calculated.
How Scores Are Calculated
Each broker is evaluated across seven categories. Each category receives a score from 0 to 100. The overall score is the average of all non-zero category scores.
The final displayed score (finalScore) is determined as follows:
- If the broker has an active regulatory warning, finalScore = 0
- Otherwise, finalScore = normalScore (the calculated overall score)
- A manual score override may be applied by editors where justified
Regulatory Warning Override
Brokers with active regulatory warnings (blacklisted, license revoked, or formal warnings from official regulators) automatically receive a score of zero, regardless of other positive factors. This ensures traders are alerted to regulatory risk immediately.
Scoring Categories
Regulation
Evaluates the broker regulatory status and number of regulatory licenses.
- •Confirmed regulation status: +30 points
- •Not confirmed: +10 points
- •Pending verification: +15 points
- •Blacklisted or license revoked: 0 points
- •Each additional regulator license: +10 points (max +50)
- •Active regulatory warnings: −40 points
Pricing
Evaluates spreads and minimum deposit requirements.
- •Base score: 50 points
- •Spreads ≤ 0.5 pips: +30 points
- •Spreads ≤ 1.0 pips: +20 points
- •Spreads ≤ 2.0 pips: +10 points
- •Min deposit ≤ $100: +10 points
- •Min deposit ≤ $500: +5 points
Platforms
Evaluates the number and variety of trading platforms offered.
- •Base score: 30 points
- •Each platform: +15 points (max +60)
Execution
Evaluates the execution model and maximum leverage.
- •Base score: 50 points
- •ECN execution: +30 points
- •STP execution: +20 points
- •Hybrid execution: +15 points
- •Leverage ≥ 1:500: +10 points
- •Leverage ≥ 1:200: +5 points
Features
Evaluates the range of tradable instruments and account types.
- •Base score: 40 points
- •Each instrument type: +3 points (max +40)
- •Each account type: +5 points (max +20)
Support
Evaluates customer support channels and language coverage.
- •Base score: 40 points
- •Each support channel: +12 points (max +40)
- •More than 3 support languages: +20 points
Usability
Evaluates broker longevity, deposit and withdrawal methods.
- •Base score: 50 points
- •Operating > 10 years: +20 points
- •Operating > 5 years: +10 points
- •More than 3 deposit methods: +20 points
- •More than 3 withdrawal methods: +10 points
Data Sources
Broker data is collected from:
- Official broker websites and regulatory disclosures
- Official regulator databases (FCA, ASIC, CySEC, and others)
- Publicly available broker documentation
- Direct broker submissions where verifiable
Affiliate Relationships
FXENA may earn commissions through affiliate links. Affiliate status does not affect broker scores, rankings, or reviews. Brokers cannot pay to improve their score. The scoring formula is applied identically to all brokers regardless of commercial relationship.
Limitations
Scores are based on data available at the time of evaluation. Broker conditions change frequently — spreads, regulations, and platform features may change without notice. Always verify current conditions directly with the broker and the relevant regulator before opening an account.
If you believe a broker score is incorrect or data is outdated, please contact us with supporting evidence and we will review the information.
Risk Disclaimer: Trading forex and CFDs carries a high level of risk. Broker scores are for comparison purposes only and do not constitute investment advice. You could lose substantially more than your initial investment.