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FXEmpire Review Process

At FXEmpire, we’ve been at the forefront of reviewing forex and CFD brokers since 2011, bringing you unparalleled expertise and insights. Over the years, we’ve reviewed more than 300 brokers worldwide, cementing our reputation as a comprehensive and reliable source in the industry.

At the core of our methodology is a hands-on approach. We not only scrutinize the data but also engage directly with brokers and their trading platforms to gain first-hand experience. This allows us to offer you a comprehensive and authentic picture of each broker.

To ensure precision and objectivity, our reviews are anchored in quantifiable metrics that span key categories such as Trust, Fees, Platforms, and Tools. This data-driven approach minimizes biases and offers a more reliable evaluation for traders seeking comprehensive analyses.

The team behind is made up of skilled forex and CFD traders who’ve learned from their trading successes and errors. Leveraging their hands-on experience, they offer straightforward tips and insights, helping you avoid common mistakes and trade with confidence.

In essence, we’re creating reviews “for traders, by traders” making FXEmpire your go-to resource for navigating the intricate landscape of online trading with both confidence and clarity. As FXEmpire is free for traders you can learn more about how we make money.

Our Philosophy

First-Hand Experience

We believe there is no substitute for direct experience. Our team of seasoned traders actively engages with a variety of trading platforms and brokers. This hands-on approach goes beyond simply evaluating data; we trade, we interact, and we get the real-world experience that feeds into our reviews. This first-hand exposure sets our evaluations apart, offering a genuine look into what each broker can deliver.

Written by Real Experts

Our reviews are crafted by professionals who have real, hands-on trading experience in forex and CFD trading. Being familiar with the challenges, opportunities, and nuances traders face, they deliver deeply informed and engaging content that is highly relevant for both beginners and seasoned traders.

Focus on the User

We always keep our readers at the forefront of our endeavors. Our user-centric approach is geared toward providing not just information but actionable insights that can genuinely help you succeed in the trading world. Instead of overwhelming you with complex jargon or extraneous details, we offer clear, relevant advice that speaks directly to your trading needs and goals.


Transparency isn’t just a buzzword for us; it’s a foundational element of our review process. From the initial stages of data collection to the rigorous testing of trading platforms and in-depth fee analysis, we place a premium on keeping you fully informed every step of the way. We present a balanced view of all our findings, be they positive or negative, to ensure our content remains unbiased and objective. This approach provides a comprehensive picture of a broker’s offering, enabling readers to make well-informed decisions.

Editorial Independence and Integrity

We maintain a strict firewall between our editorial content and external influences, ensuring that our team of experts has the complete freedom to evaluate and review brokers without interference from any third parties. This level of independence enables us to deliver unbiased, objective reviews that you can trust. We are dedicated to being ethical and honest in everything we publish. We double-check our facts, openly fix mistakes, and avoid exaggerating claims, making sure our reviews are both thorough and trustworthy.

By adhering to these five principles, we strive to make FXEmpire your indispensable companion in navigating the complex world of forex and CFD trading.

Our Team

The team of forex and CFD broker analysts at FXEmpire is composed of trading industry professionals and seasoned financial journalists who have broad experience in trading and reviewing brokers. Our experts have been featured in leading financial websites such as Investopedia, Forbes, and Nasdaq.
Meet the experts behind FXEmpire broker reviews and guides.

Dan Blystone

Dan began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.

Jitan Solanki

Jitan is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As a seasoned trader and educator, Jitan brings all his experience into action when reviewing and recommending brokers.

Plamen Stoyanov

Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favorite trading instruments include FX majors and gold. He earned a Bachelor’s degree in Economics and International Relations. Plamen’s broad experience has equipped him with the expertise to review and recommend forex brokers.

Vladimir Zernov

In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his portfolio. Using his experience, he helps traders find the best broker in his reviews.

FXEmpire Forex Broker Reviews

Review Methodology

How do we test

Our proprietary rating system is the backbone of our broker evaluations, guaranteeing objectivity and thoroughness. We conduct meticulous testing and research, employing a mix of live trials, detailed questionnaires, and broker demonstrations.

By analyzing over 250 variables across 9 critical categories from regulatory compliance to platform features we craft a comprehensive profile for each broker. Categories are scored on a scale from 1 to 5, with 5 indicating excellence. This rigorous methodology equips traders with the insights needed to identify the best brokers for their individual trading preferences and requirements.

The table below breaks down the criteria we assess in our broker reviews and their weight in our final ratings:

Category What do we test? Weighting
Trust We investigate the regulatory compliance of each broker entity and assess the number of top-tier regulations they have secured. Additionally, we evaluate the transparency of brokers by examining how openly they share key details about their fees, regulatory compliance, history, and management. 18%
Fees We conduct spread and commission tests during the London and New York trading sessions, and measure swap fees by maintaining a leveraged position overnight. We also review any fees for account inactivity or maintenance. 18%
Platform and Tools We open accounts and thoroughly test all available trading platforms, focusing on design and usability. We evaluate the variety of order types, chart options, technical indicators, and the presence of algorithmic and copy trading features. Additionally, we assess the performance of mobile trading apps on both Android and iOS platforms. 18%
Tradable Instruments We evaluate the variety and number of tradable assets, noting the number of CFDs on forex, commodities, shares, indices, futures, cryptocurrencies, and real shares available from each broker. 11%
Customer Support We assess every support channel – live chat, email, and phone. Our evaluation focuses on the availability, expertise, and promptness of the support staff across a spectrum of inquiries, simple to intricate. Additionally, we record the diversity of language support offered. 10%
Research We explore brokers’ market research offerings encompassing both in-house and third-party articles, videos, economic calendars, trading signals, and technical analysis tools. We pay close attention to the update frequency and overall quality of these resources. 8%
Deposit and Withdrawal We inspect all available payment methods and monitor processing times and associated fees. Our tests highlight brokers offering quick and cost-effective fund transfers. 7%
Account Types and Terms We evaluate the ease of account setup, including the required minimum deposit, the range of available base currencies, and the time needed to open an account. Our comparison of account offerings spans spreads, leverage options, and special types such as demo, Islamic, and professional accounts, outlining their distinct features and trader requirements. 6%
Education We examine the quality and range of educational content for traders, including articles, videos, webinars, and courses. Our focus is on the content’s update frequency, comprehensiveness, and practical platform tutorials. 4%

FXEmpire Best Brokers Guides

FX Empire has pioneered a unique and comprehensive methodology for evaluating the services and conditions of brokers providing CFD trading to clients worldwide. All of the brokers listed are among the leaders in our tests.

We have been reviewing brokers since 2010 and have developed an in-depth procedure for evaluating CFD brokers. Our process has taken years to refine and involved hundreds of reviews. To provide the most comprehensive view, we’ve gone to a granular level testing each broker by over 250 variables across nine different categories:

  • Trust
  • Fees
  • Platforms and tools
  • Tradable instruments
  • Customer service
  • Deposit and withdrawal
  • Account types
  • Research
  • Education

FXEmire experts are working continuously to improve our system and keep it up-to-date with current market trends. With extensive experience and understanding of the brokerage industry, each member of our team is a See all our best brokersdedicated professional who is well-equipped to review forex brokers and recommend the best of them.

We gather the data through live testing, research, detailed questionnaires, and in-person broker demonstrations. We open accounts with each broker, focusing primarily on the services of one entity and testing using the most standard account type and platform. We conduct live tests of spreads as well as measure overnight swap fees and account-related costs.

Moreover, we test the functionality of the platforms, the number and types of available instruments, the reliability of customer support, and the quality of the research and educational materials. All in all, our side-by-side analysis reveals whether a broker is competitive in relation to the industry as a whole.

Using our vast knowledge and data, we define the brokers’ strengths and weaknesses and create the best brokers’ guides following traders’ needs and requirements.

Our team of experts carefully selects the brokers that stand out in the specific categories and offer the most convenient trading conditions in specific regions or for various types and levels of traders. Rest assured that all the brokers listed on our best pages are among the top performers in our tests.

To ensure accuracy and relevance, we arrange the best brokers’ guides by countries, trading features, and traders’ experience wrapping up our findings and conducting additional research when it’s needed.

Our guides not only recommend the best brokers but also explain why we chose them for the specific best list and how they became the winner in a particular category. We strive to provide you with the most comprehensive and reliable information and help you make informed decisions about your trading.

See all our best brokers guides.

FXEmpire Online Stock Brokers Reviews

Choosing a stock broker is a big deal. At FXEmpire, we understand that you are rightfully concerned with who you trust to hold your money and investments. The fees and expenses charged by your broker could make-or-break a profitable trade or investment. That’s why we take editorial reviews seriously. We know you count on them.

Here are the most important criteria we look at when reviewing an online stock broker and some of the steps we take to ensure reviews are objective and helpful to our readers.

Editorial Independence

Editorial independence is critical in an objective review process and remains a key element in ensuring you get a positive, well-rounded experience. To ensure you get an honest opinion, the reviewers are completely independent of the FXEmpire team responsible for sponsor relationships and sales.

Review Process

In order to provide you with the most critical information, FXEmpire reviewers and editors created a list of core evaluation categories relevant to the majority of traders and investors.

For each category, the independent reviewer finds information on broker websites and publications. Brokers are asked to complete a form listing important details about platform, pricing, product offerings and additional features which is used in completing reviews when available.

Each broker is given a numeric score based on the evaluation categories as well as a written review focusing on the most important factors for beginner, intermediate, and expert investors and traders. Reviews assume you are familiar with basic investing terms and the risks involved.

Evaluation Categories

The numeric scores that brokers receive in this category is based on how well the broker compares to others in its peer group. Editorial content is focused on the widest range of needs with comments aimed at both beginners and experts.

Category Weighting
Costs and fees 9%
Types of accounts 9%
Tradable Securities 9%
Account opening 9%
Trading platforms 9%
Order Types 9%
Banking 9%
Customer support 9%
Bonus and promotions 9%
Regulations, reputation, and security 10%
Research and education 9%

Costs and Fees

Costs and fees are one of the most important parts of your broker experience. With a growing group of brokers that charge no fees, as well as market-leading discount brokers, consumers have shown with their dollars that this is what they care about most.

We agree and factor in the costs of stock, ETF, bond, mutual fund, and options trades, as well as other securities,  offered. Brokers that offer flexible pricing catering to different needs earned extra credit.

Types of Accounts

The winners here serve users an array of account types including individual, joint, retirement, and business accounts. Some brokers do well in other categories but only offer a few types of accounts. In that case, they wouldn’t score well here.

You may not need all types of accounts, but we like it when a brokerage gives you the ability to handle all of your investment accounts under one roof with one online login and one place to call for help.

Tradable Securities

Investing doesn’t mean just stocks. The best brokers in this category offer more than the typical stocks, bonds, ETFs, mutual funds, and options. Those are all expected, and brokers that offer less than this list don’t score as well. Adding things like futures, cryptocurrencies, and of course, foreign exchange, help a broker earn top marks.

Account Opening

Opening a new investment account should be less painful than a trip to the dentist – sorry dentists. We looked into the account opening process and tested many of them ourselves. If you can easily and quickly open an account yourself online without jumping through additional hoops, a brokerage earns the best score. Offering in-person locations also helps. Requiring additional paperwork or forms in the mail, on the other hand, is a negative factor.

Trading Platforms

Active traders should look here first. Trading platforms are an important part of the experience for expert and active traders, while passive investors may not care at all about what a brokerage offers here. The best brokerages in this category offer desktop platforms with fast in-app trading, flexible windowed environments, lots of chart options, and the information you need at your fingertips. A lack of desktop or mobile app hurts scores here, as does a lack of support for popular operating systems like the Mac.

When possible, the reviewer downloads and tests both desktop and online platforms during the review process.

Order Types

Every brokerage should offer market, limit, and stop orders. That’s the baseline for “average” brokerages. A small group offers a shorter list than this and earned low scores. The ability to offer complex trades and multi-leg options trades leads to the highest scores.


Not all brokers offer bank accounts, but it is a growing trend and for good reason. Having your bank at the same place as your broker is convenient and makes transferring funds lightning fast. If a brokerage offers banking, high scores are earned by accounts with low fees and competitive interest rates. If no bank accounts are offered, the broker earns a score of zero here.

Customer Support

Hopefully, your account hums along without any hiccups. On occasion, however, even investors with simple needs may need to call customer service. To get the best score, brokerages should offer 24/7 customer support online and by phone. A footprint of physical branches in large cities helps earn a perfect 10.

Limited hours or weekday-only hours customer service is negative for scores. Difficulty finding a customer service phone number, contact form, or online chat is poor for customer experiences and scores in this category.

Bonus and Promotions

Not all brokers offer a bonus or promotion, but it sweetens the deal when one is available. The best scores came from brokerages that offered something useful to the majority of people signing up. If only ultra-wealthy customers would qualify, the bonus gets a low score. No bonus or promotion leads to a zero score.

Regulations, Reputation, and Security

We expect financial institutions to uphold a high level of security and ethics while adhering to government regulations. Most brokers earn a 10 here. A history of security incidents, conflicts with regulators, or major fines lowers scores.

Research and Education

Both new and expert traders and investors can level up their skills. The best scores in this category come from a suite of education and research resources. For education, we look for courses, webinars, live events, videos, and articles that help users learn more about earning more and losing less.

For research, the most important factors are access to a wide breadth of timely information. That can include streaming prices, live charting, and news streams inside of trading platforms. Access to more reports from more sources helps scores while less information pulls scores lower.

Trading Experience

We don’t give brokers a score in this category, as there is no right or wrong. In the editorial reviews, we use this section to explain why a brokerage is good for beginners, experts, or both.

See all our stock broker reviews.

Review Team and Updates

Reviews are compiled by a team of writers and editors spread around the world. The primary reviewers for each US brokerage is located in the United States and have tried many of these brokerages themselves for personal use in addition to review purposes.

Reviewers include Eric Rosenberg, a former bank manager with two finance degrees and more than ten years of writing about money online. The main office for FXEmpire is located in Tel Aviv, Israel.

Reviews are dated based on the time they were created. We work to ensure reviews stay up-to-date and note the last update date on the review’s page on FXEmpire.

We Are Investors Like You

The entire FXEmpire team is passionate about finance. Our reviewers, editors, and production team are all investors ourselves with our own accounts. We apply this passion, experience, and insight into every single review to bring you the best possible experience.

We hope every trader and investor that passes by FXEmpire goes on to reach success in the financial markets. We are honored to be a part of your journey.

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