Table of Contents
We at Forex Broker Inspect embarked on a journey with a single goal: to become the world’s leading authority in delivering comprehensive and unbiased reviews of online forex brokers.
Fast forward to today, and our commitment to transparency and excellence in the Forex trading market remains steadfast. We conduct exhaustive broker reviews, in-depth platform tests, and employ our proprietary FX Integrity Score system. We are forensic in our research, ensuring brokers’ claims align with their actual services, going beyond mere surface-level analysis.
We actively engage with each broker, opening trading accounts to meticulously scrutinize their product and service offerings. Our primary focus is validating the trading costs and regulation as advertised on the broker’s website. We also place significant emphasis on assessing a broker’s trading platforms, deposit and withdrawal charges, and withdrawal processing times. Acknowledging the rapid evolution of the industry, we ensure that our reviews are consistently updated to reflect the most current information.
Our commitment to our editorial principles has won the trust of millions of readers worldwide. Our dynamic editorial model allows for the continual collection of data, evaluation of products, and ongoing research. Once static between year-end Annual Reviews, our ratings, rankings, and reviews are now updated constantly, leading to more accurate content and deeper engagement with the Forex industry.
Our rigorous commitment to data integrity remains, even as we transitioned our research and data collection to a more dynamic model. We regularly perform audits and validate our data. This contributes to our rigorous data validation process with an impressive error rate of less than 1% annually.
We continue to thrive and our expertise on the complexities of global forex trading and international regulatory bodies shapes our research and testing initiatives.
We ensure impartiality through our unique testing and review process, leading to the evolution of the Forex Broker Inspect Annual Awards – an embodiment of our rigorous standards. These awards, driven by independent research, recognize brokers exhibiting excellence in categories essential to investors, traders, and consumers.
With a rich legacy behind us and a commitment to providing accurate and data-driven content, we at Forex Broker Inspect strive to remain the go-to guide for traders in the ever-evolving world of Forex trading.
Our work at Forex Broker Inspect is anchored in three cardinal principles: Independence, Honesty, and Impartiality. These principles inform our assessments, drive our recommendations, and guide our advice to our readers. To maintain our integrity, we always keep to the following guidelines:
Risk Assessment: We make no concessions when it comes to safeguarding our readers’ investments. If a broker or service provider is assessed as a risk, we openly declare it, always prioritizing your financial safety.
Constructive Criticism: If we identify areas for improvement or deem a service avoidable, we share this candidly, prioritising our readers’ welfare above all else.
Praising Excellence: When we encounter an outstanding company or service, we voice our admiration unequivocally, irrespective of external pressures or influences.
Integrity in Evaluation: We will not amend our opinions or alter our evaluation process to appease or retain an affiliate partnership.
Impartial Highlighting: We won’t selectively emphasise or intentionally obfuscate any product or service to secure or uphold an affiliate relationship.
Unbiased Algorithms: Our proprietary data-driven FX Integrity Score system will never be manipulated to favour an affiliate partner.
Data Privacy: We commit to keeping marketing revenue information or advertising campaign data separate from our researchers or editorial team.
By rigorously adhering to these guidelines, we ensure that our readers receive reliable, unbiased, and valuable advice. As our readers, your interests remain paramount in all our endeavours at Forex Broker Inspect.
At Forex Broker Inspect, we are dedicated to bringing transparency and accuracy to the forex trading market. We do this by reviewing brokers, rigorously testing their platforms on modern devices, and rating them based on over 200 metrics.
Our testing process utilizes a range of modern devices running on the latest operating systems. Our desktop testing is conducted on Intel Core i9-13900K PC and MacBook Pro M2 Max laptops. For mobile testing, we use iPhone 14 Pro and Google Pixel 7 Pro devices.
Choosing a broker you can trust with your money is a crucial decision. At Forex Broker Inspect, we’ve developed a proprietary tool, the FX Integrity Score, to assist you in this. Using extensive research on brokers and international regulators, we’ve designed an algorithm that provides each broker with an FX Integrity Score ranging from 1.00 to 5.00. The higher the score, the more trustworthy the broker.
At Forex Broker Inspect, we employ the following types of scoring:
Our Yes/No scoring is based on over 100 proprietary variables that inform our final ratings and rankings. Points are assigned for each “Yes” answer, with varying weights depending on the variable’s significance. The final “Yes/No” score, or the broker’s Variable Score, is the total points earned divided by the total points possible.
Opinion scoring complements Yes/No scoring by addressing important aspects that can’t be quantified. Scores range from 1 to 10, with half points used for more granular scoring.
Our Quantitative Scoring System refers to our proprietary system, driven by Artificial Intelligence algorithms, which evaluates broker entities such as their financial products using measurable data. It utilizes a set of defined metrics that are quantifiable, such as trading fees, withdrawal times, number of trading instruments, platform uptime, and customer service response times by:
Our evaluations begin with a comprehensive analysis of each broker’s products and services, scrutinizing their advertised offerings and user experience. We pay special attention to the accuracy of trading costs mentioned on the broker’s website. We also emphasize the assessment of a broker’s trading platforms, deposit and withdrawal fees, and withdrawal processing times.
Our process is dynamic, not static. Understanding that brokers often modify their product offerings, we ensure our reviews are consistently updated with the most recent and accurate data.
Brokers are scored in seven different areas, with each area awarded up to a maximum of 5.00. The final score is calculated by weighting each area according to its importance in the review process. In total, we consider over 200 individual metrics grouped into the following categories:
Through this balanced and comprehensive approach, we ensure that our reviews, ratings, and recommendations are honest, impartial, and geared towards providing the best guidance for forex traders.
Our unique awards are data-driven, relying on rigorous analysis and carefully considered expert opinions. We celebrate excellence in diverse aspects of forex trading, from trading conditions and customer support to platform functionality and educational resources.
Our awards act as a gold standard in the forex industry, championing brokers who exceed the industry standards and elevate the trading experience. Explore the categories and discover the brokers that lead the way in setting benchmarks for the forex trading world.
Here’s a detailed breakdown of our Forex Broker Awards: