One public formula. No paid scores.
Everything that moves a Verdict Score is on this page. If it isn't here, it doesn't count.
The full formula
At full strength the Verdict Score (0–10) is 40% hard data, 30% verified traders, 20% money out (withdrawal speed and dispute resolution) and 10% our own account tests.
What runs today (launch formula)
Verified reviews, withdrawal times and our account tests need data before they can count. Until a broker has 10 verified reviews, its score is 60% hard data + 40% outside ratings. As verified reviews arrive, outside ratings fade: 25% weight at 10–49 verified reviews, 10% at 50 or more.
Hard data
- Regulation (50% of hard data). Best licence held: Tier 1 = 10, Tier 2 = 7.5, Tier 3 = 5, offshore only = 3, none found = 0.
- Trading cost (30%). Cheapest published EUR/USD cost per standard lot (spread × $10 + round-turn commission). $5 or less scores 10, $25 or more scores 0, linear in between. No published spread scores 5.
- Accessibility (10%). Minimum deposit: up to $10 = 10, $100 = 8, $250 = 6, $1,000 = 4, above that = 2.
- Platforms & payments (10%). Up to four platforms, up to eight payment methods, Islamic accounts and copy trading.
Regulator tiers
- Tier 1: FCA (UK), ASIC (Australia), FINMA (Switzerland), BaFin (Germany), NFA/CFTC (US), MAS (Singapore), JFSA (Japan), CIRO (Canada), SEBI (India).
- Tier 2: CySEC and other EU regulators, DFSA and FSRA (UAE), SCA (UAE), FSCA (South Africa), FMA (New Zealand), SFC (Hong Kong).
- Tier 3: CMA (Kenya), JSC (Jordan) and similar.
- Offshore: FSC Mauritius, FSA Seychelles, SVG FSA, VFSC (Vanuatu), FSC BVI, IFSC Belize, SCB Bahamas, Labuan FSA, Mwali/Comoros.
Outside ratings
We use Trustpilot's aggregate score, weighted by how many reviews sit behind it: 20 reviews carry about a third of full weight, 10,000 carry full weight. We show the score and count with a link. We never copy review text.
Caps
- No licence found: score capped at 5.0.
- The RBI Alert List applies to Indian residents, so it doesn't cap the global score. It's shown in red on the broker's page, in every table and on the India page.
Verified reviews
Reviews are weighted by proof: unverified 0.2×, account verified 1×, funded and traded (read-only MT4/MT5 login) 2×, withdrawal proven 3×. Scores are Bayesian-smoothed so three reviews can't outrank three hundred, and older reviews count less. Documents are reduced to the facts we need and deleted within 30 days.
Sponsors
Brokers can buy labelled placements. Placements never change a score, a rank, a review or a dispute. Unregulated brokers and brokers on a regulator warning list can't buy them. If we earn a commission when you open an account, the link says so.
Data freshness
Every broker page shows the date its data was last checked and links to each source. Terms are rechecked monthly, warning lists daily.