There are a variety of different ways you can review a company. It’s important to note that there’s no universal company that caters to the needs of every investor. One person may prefer Broker A while another may prefer Broker B. We stick to a strict set of criteria when analyzing companies. Different metrics matter to different traders so we try to be as thorough as possible.
Here are a few of the criteria we analyze.
Credibility and Trustworthiness
First things first, we want to make sure companies are credible. Any company can make bold claims or tout their superior offerings, but we want to see that them back it up. We start by analyzing the company itself. We look at their corporate structure, how they manage order flow, how many employees they have, where they are located, etc. We also take customer feedback into account. We analyze customer reviews, scam reports, and our own experiences to determine if a company is credible and trustworthy.
When analyzing Forex Brokers, we review the investment offerings available. This includes the currency pairs, CFDs, futures, etc. Every broker has a different specialty so we don’t always equate quantity of offerings with quality. That said, it can be helpful to have a broker that allows you to trade multiple assets.
Commissions and Fees
Show me an investor who isn’t price conscious and I’ll show you an investor who won’t make it in this space. Every trader and investor cares about fees. Whether these fees come in the form of commissions or payments for courses and strategies, we always weight “Pricing” as a major factor in our reviews. Of course, we understand that cheaper isn’t always better, so we use a “value-based” pricing evaluation.
Serious traders need powerful platforms. Your platform can make or break your success as a trader. If you have a platform that is always crashing, or lacks the proper features, you could be setting yourself up for failure. There are certain industry standards when it comes to platforms, but there are plenty of good options. We analyze the availability of platforms and the quality of the platforms themselves. If we are analyzing a new platform, we do a deep dive into the features, effectiveness, and efficiency of the platform.
When you wire your money into an account, you need to be able to trust the people who are responsible for your capital. You need a responsive team that is helpful and understands what it’s like to be in your position. Customer service is particularly important when it comes to trading. You don’t have time to wait 24 hours for an email response to an urgent issue. You need to be able to get in touch with a customer service representative as soon as possible. We analyze the quality and availability of the customer service at all of the companies we review. We like to see how fast they respond, how knowledgeable they are, and how fast they can fix urgent issues.
Investing is one of the few industries where education easily converts into profitability. An undereducated trader is sure to lose money and make mistakes. We like to see companies who take the time to educate their customers. This education may come in the form of resources, courses, or guides. It may be related to investing strategies or platform/service navigation. We expect companies to provide customers with all of the resources needed to succeed.