FX Broker Rankings 2023

Our State of the Market report provides a continuously-updated overview of the CFD broker market, where each broker is graded on 200+ metrics across seven areas of interest, and weighted to give a total average score.

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Dear Traders,

Our specialism has always been reviewing and rating the best CFD brokers in the world and we thought it was time to open up our methodology to you, the traders. For this State of the Market report we have assessed brokers across seven areas of interest and then combined them to get an overall rating.

For ease of use, you can sort the brokers by any of the seven areas of interest to find the one that best performs in the category that is most important to you.

Brokers are constantly improving their product offering and this report will reflect any changes they make, so it is worth checking back here occasionally to see what has changed.

Areas of Interest (with weightings)

Platforms and Tools (17.5%)

A broker which supports the widest range of platform choice is in the best interest of the trader. While proprietary trading platforms can add value, they can be a barrier to the free movement of traders between brokers as they hunt for better trading conditions.

Trust and Regulation (20%)

Regulation in the CFD trading industry is the single best indicator of trust; the better the regulator overseeing the broker, the more trustworthy the broker is. As regulators operate independently and have varying rules and enforcement mechanisms, we have categorised regulators into four different tiers, where Tier 1 regulators are the most trusted to protect clients and Tier 4 regulators are the least trusted. More information on our tiering system and which regulators are in what tier can be found here.

Deposit & Withdrawal (10%)

Most of the complaints we receive about brokers relate to client access to their funds. Therefore, we place more value in withdrawal methods than deposit methods; and fast, fee-less withdrawals are favoured over conventional banking methods.

Assets Available (12.5%)

The more CFD assets classes available to traders, the better and more varied the trading experience can be. While the basics must always be covered, brokers with comparatively more inventory are rated higher than those with less.

Education & Research (10%)

Quality of education and research is vital to traders of all levels, and we reward brokers with well-structured and high-quality learning content for traders of all levels.

Customer Service (10%)

As CFD brokers are financial institutions that hold client funds, quick access to customer service is essential. Brokers who offer clients faster access to customer service at any time, and in any language are favoured.

Trading Conditions (20%)

Trading conditions dictate the fees brokers charge for offering their service, and the quality of service provided to traders. We believe that the best brokers offer competitive trading accounts for beginner traders, with a great product offering, and reasonable minimum deposits.

We hope that you find this State of Market report useful and informative, please do let us know your thoughts and suggestions.

Finally, on behalf of the entire team here at FxScouts, I want to thank for all your support over the years and wish you good luck in your trading ventures.

Jeffrey Cammack

Chief Operating Officer

FxScouts

Note To Brokers:
If your company is included in this report, and you feel there are inaccuracies, please read through our review of your product offering. All information used in the table is available in some format in the review, and updates there will ensure your scores are correct.

Press Contact:
If you are a member of the press and are interested in understanding more about how we rank brokers, and how they operate on the market, please contact us at [email protected], and please include your outlet and all contact details.