Main Regulatory Protection
| Regulatory Status | Score |
|---|---|
| Tier-1 regulation | 5 |
| Tier-2 regulation | 4 |
| Tier-3 regulation | 3 |
| Offshore regulation | 2 |
| Unregulated | 1 |
Additional Licenses
| Additional Licenses Held | Score |
|---|---|
| No additional licenses | 0 |
| One additional Tier-3 license | 1 |
| One additional Tier-2 license | 2 |
| One additional Tier-1 license | 3 |
| Two or more additional strong licenses | 4 |
| Multiple Tier-1 licenses across major jurisdictions | 5 |
Market Presence & Operating History
| Years in Operation | Score |
|---|---|
| 20+ years | 5 |
| 10-19 years | 4 |
| 5-9 years | 3 |
| 2-4 years | 2 |
| Less than 2 years | 1 |
Trust & Safety Score Caps
We cap the score in certain cases: otherwise a broker with thin or murky regulation could still land a high Trust & Safety score just by being old or ticking a few secondary boxes, and that would defeat the point.
| Broker Status | Maximum Trust & Safety Score |
|---|---|
| Unregulated | 1.5 |
| Offshore-only | 2.5 |
| Tier-3 only | 3.5 |
| Tier-2 only | 4.3 |
| Tier-1 regulated | 5.0 |
Red Flags and Score Adjustments
The tables above cover most cases, but not all of them: if we turn up something concerning that the standard scoring doesn't capture, we'll mark the score or the verdict down manually rather than let the formula have the last word.
- Regulatory warnings, fines, suspensions, license restrictions, or enforcement actions
- Unclear legal entity, ownership structure, or client onboarding entity
- Unresolved withdrawal complaints or repeated payment issues
- Misleading claims about regulation, fees, execution, bonuses, or trading conditions
- Opaque company information or limited disclosure of key legal documents
- Major inconsistencies between published terms and customer support responses
- Highly restrictive bonus terms that may prevent realistic withdrawals
- Serious platform stability, execution, or order-handling concerns
These adjustments aren't applied lightly: how much a red flag costs a broker depends on how serious it is, how recent, how often it's come up, and how solid our source is. A serious enough flag can cap the final score regardless of how well the broker does everywhere else.