A broker comparison should begin with questions that can prevent serious harm—not with the lowest advertised spread. Regulation, client-asset arrangements, total cost, execution and withdrawal reliability matter more than a bonus or a familiar platform logo.
1. Verify the exact legal entity
A brand may operate multiple companies under different regulators. The footer of the signup page, client agreement and account-opening confirmation should identify the entity that will hold your account. Check the licence in the regulator’s own register and confirm that the website domain and contact details match.
- Company’s full legal name and registration number
- Regulator and licence/reference number
- Country governing the client agreement
- Retail or professional client classification
- Negative-balance protection and margin close-out rules
- Client-money segregation and any compensation scheme
- Complaint and dispute-resolution route
Do not assume an international landing page offers EU or UK protections. The FCA specifically warns consumers to check regulatory status and be cautious when firms or introducers actively solicit them.
2. Compare total cost for your own trading pattern
| Cost | What to compare | Common trap |
|---|---|---|
| Spread | Typical, not only minimum, during your trading hours | Headline spread excludes volatility and rollover widening |
| Commission | Round-turn amount in account currency | Per-side and per-lot conventions differ |
| Financing/swap | Long and short rates plus triple-swap day | Can dominate a multi-week result |
| Conversion | Funding and profit conversion rate/markup | Small percentages compound across activity |
| Non-trading fees | Withdrawal, inactivity and data/platform charges | Terms differ by entity and account type |
Create three sample trades representing your likely holding periods and calculate total expected cost. A “zero commission” account can be more expensive through spreads; a raw-spread account can be inefficient for small position sizes.
3. Test execution, support and withdrawals
Use a demo to learn the platform, then—only if appropriate—use the smallest practical live amount to test the operational chain. Record requested and filled prices, order rejection, platform downtime and withdrawal timing. Demo fills do not prove live execution quality.
Check whether stops can slip, whether guaranteed stops exist, how the broker handles price gaps, and whether the broker publishes an execution policy. Read the complaints process before you need it.
4. Platform and account fit
Platform choice should follow strategy requirements. Confirm supported order types, historical data quality, export capability, server time, two-factor authentication and whether automation is allowed. See our MT4 vs MT5 setup and risk guide.
5. Red flags
- Guaranteed or unusually consistent returns
- Pressure to deposit immediately or borrow to trade
- Requests to install remote-access software
- Crypto-only deposits with unclear beneficiary
- A licence number that belongs to a different company or domain
- Pressure to waive retail protections and become “professional”
- Withdrawal delays paired with demands for a new tax or release fee
- An influencer or account manager trading on your behalf without clear authorisation
The CFTC reports increased complaints involving unregistered offshore forex dealers and emphasises that retail OTC forex customers trade against a dealer rather than on a live central exchange.
Our reviewed brokers
Our reviews separate verified facts, terms that can change and editorial judgment. Recheck the broker’s own legal documents and regulator register before signing up.
HFM international offer
Trade-Forex.info may earn a commission if you open an account through the link below. This does not change your price, but the international /sv/ page may route visitors to an entity whose protections differ from those in the EU/EEA. Read the entity disclosure and client agreement before proceeding.
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Affiliate relationship disclosed clearly; no recommendation or guarantee is implied.
Primary sources and official registers
- FCA Financial Services Register
- ESMA public registers
- FCA — Contracts for difference
- CFTC — Eight things to know before trading forex
Editorial standard: licence and product claims are checked against regulator or broker legal documents and dated. Affiliate terms do not determine review conclusions. See our editorial policy and affiliate disclosure.