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Our methodology

Broker scoring methodology

Understand the evidence behind broker scores, provisional research and risk labels.

Scoring methodology

Scores should explain the evidence, not hide it.

FXICON scores brokers from 0 to 10 using a transparent internal model. The score is not investment advice. It is a structured research signal based on regulation, broker transparency, trading facts, platform evidence, user feedback, and source freshness.

0-100 evidence model

Score factors

Regulation and license evidence

30 pts

License status, regulator quality signals, offshore status, revoked or suspicious records.

Transparency

15 pts

Official website, domain, company identity, address, contact channels, and source citations.

Trading conditions

15 pts

Concrete deposit, leverage, spread, commission, account and funding disclosures. Unknown or account-dependent placeholders do not earn pricing points.

Platform verification

12 pts

MT4/MT5 or other platform availability and whether the platform status is listed or verified.

Trader feedback

15 pts

Approved review rating, review volume, and unresolved complaint pressure.

Freshness and source confidence

13 pts

Recent editorial checks, reviewed citations, source URLs, verified badge, and profile completion.

7.0-10.0

Low risk

Strong evidence with no major active flags.

Incomplete research or caution flags

Medium risk

Incomplete evidence or a medium-severity flag, including jurisdiction restrictions, requires attention.

Major warning or weak complete evidence

High risk

No-regulation status, a major warning flag, or a non-provisional score below 5.0.

Severe licence or risk concerns

Extreme risk

Severe licence concerns, multiple major flags, or a non-provisional score below 2.5.

Risk intelligence

Flags that affect trader caution

The system generates visible flags when a broker has missing regulation, offshore-only evidence, stale review dates, missing contact channels, high leverage, unresolved complaints, low user ratings, no sources, or an unclaimed profile.

No verified regulation
License concern
Very high leverage
Open exposure reports
Needs fresh review
No sources recorded

Ranking methodology

Research points and editorial positions

Research points range from 0 to 100. The 0-10 evidence score contributes 60% of the total. Additional components reward matched reviewed register evidence, recent reviewed sources, listed platforms, approved trader feedback and editorial research freshness.

Recorded evidence
60 maximum points
Matched register sources
15 maximum points
Recent reviewed sources
10 maximum points
Listed platforms
5 maximum points
Approved trader feedback
5 maximum points
Research freshness
5 maximum points

Register points require a current eligible licence and a reviewed official-register citation with the same URL. Expired and future-issued licences do not qualify. Each distinct recent reviewed source earns two points, up to ten; future-dated checks do not qualify. Explicitly unavailable platforms do not earn listed-platform bonuses.

The additional feedback component is the approved non-spam review average divided by five, multiplied by five and by the smaller of review count divided by ten or one. Without approved reviews it is zero. The underlying evidence model retains its disclosed neutral no-review baseline; that is not a trader rating or proof of satisfaction.

Published unresolved complaints deduct three points each, up to thirty. A high or extreme risk label deducts fifteen more. Pending private submissions do not reduce public points. Reviewed official regulator warnings cap the final total at forty; totals cannot fall below zero. Adjustments are included in each point breakdown. Warning-only records remain separate from broker rankings.

Evidence rank orders brokers by research points, not by their raw 0-10 evidence scores alone. Equal point totals use a stable name and record-ID tie-breaker.

Editorial ordering can place selected profiles first or later in the displayed list. An editorial position is a disclosed placement, not a ranking calculated from the 0-10 editorial rating. Editorial ratings, commercial tags and placements do not add research points or change evidence positions or trader-review averages.

Research freshness contributes five points for an editorial check within ninety days, or 2.5 within 180 days. Missing and future editorial dates earn none. Daily snapshots compare movement only with an earlier day using the same ranking and evidence model versions. A model change starts a new movement baseline.

Automated source checks remain distinct from human licence reviews and may contribute source-recency evidence without confirming regulatory permissions. Website availability does not establish authorization, confirm trading conditions or guarantee safety.

Currency research reports and market charts overlooking London's financial district
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Broker research, in context.

Regulatory records, trading conditions and trader experiences.

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