This is our subjective view on how good the package is in this broker platform. For brokers offering multiple trading platforms, we rate the best one.

From our experience trading a real account, this is how we rate this broker's order execution. Brokers with guaranteed fills get a boost in rating.

How user-friendly is the trading platform? For brokers offering multiple trading platforms, we rate best one.

How good a company's client support manage questions and problems is a very important aspect of their overall performance as a business. For this rating we consider the hours of operation, the different modes of contact (such as call back service, live chat, toll-free numbers etc.) as well as the staff's patience, eagerness to help, and most importantly, knowledge.

Since different brokers offer different currency pairs with different spreads, variable or fixed, commission or commission-free trading etc., the idea of judging transactions costs overall becomes somewhat subjective. This is where we try to capture the broker's overall willingness to keep your trading costs low.

Again, since each broker has their own way to calculate overnight interest rate, or swap for each currency, it is not feasible to have an objective, quantitative way to judge their swap rates. The issue is further complicated because some brokers decide to offer swap-free accounts, some with extra fees added, some not, some for Islamic traders only, and some for the general public. This rating attempts to roll all of that into one.

One of the often-overlooked aspects of a brokers business is how quickly, efficiently, and inexpensively they process your withdrawals. For this rating we take into account the time it took us to get our withdrawals processed, the fees that were charged for those withdrawals (if any), any problems we encountered during the process, as well as the number of withdrawal methods available (such as PayPal, Moneybookers, etc.)

Different platforms have very different levels of complexity. In general, more complex trading platforms give the user more flexibility in their trading, but involve a longer learning curve for new users to get accustomed to their idiosyncrasies. This rating measures the ability of the trading platform to complete complex tasks, most importantly in order management and reporting. For brokers offering multiple platforms, we rate the best one.

One of the most annoying (and costly) complaints traders have about their brokers is that the trading platform crashes at the most crucial times. This rating attempts to get a handle on how the trading platform performs in terms of stability and reliability. Is the platform always available? Does it crash or freeze? How often? For brokers offering multiple platforms, we rate the best one.

The arithmetic mean of all the above ratings, rounded to the nearest half-star.

The geographical location of the broker's headquarters.

Which regulating body, if any, is responsible for regulating this broker?

Some brokers choose on their own and others are required by regulators to keep client funds separate from the company's operating capital. This gives clients an extra layer of security in case the broker becomes insolvent and needs to go into bankruptcy. It should be noted that segregation does NOT constitute absolute safety of client funds in case of bankruptcy, but is a significant step nonetheless.

Does this broker report client earnings to any tax authorities? If so, which ones?

Some brokers, either due to government regulation, or due to their own risk management policies, choose to prohibit clients from the United States.

Most brokers are somewhat secretive about this aspect of their business, but those who aren't certainly provide their clients with a valuable piece of information. The more liquidity that is available, the better order execution clients can expect. Knowing the institutions which provide this liquidity can also offer a glimpse into which currency pairs have sufficiently deep liquidity for your needs.

The amount of capital the company has on hand. CFTC registered companies are required to report this, but most other brokers do not.

A list of other places, besides the headquarters, where the broker has offices.

The name of the parent company of the broker, if any, or the business name under which the broker operates.

When was the business established? This is a measure of trustworthiness. If a business has been around for a long time, it is less likely to scam you or disappear overnight.

What methods are available to deposit and withdraw money to and from your trading account?

Does the broker offer a trading platform that can run in web browsers? If so, which one? Some brokers license their platforms from third-party providers, while some develop their own proprietary systems.

Does the broker offer a downloadable application for its platform? If so, which one? Some brokers license their platforms from third-party providers, while some develop their own proprietary systems.

Some brokers offer a simplified version of their trading platform that can run on mobile devices. Some of these brokers license their mobile platforms from third-party providers, while others develop their own proprietary mobile trading systems.

Does the broker offer clients a way to contact their dealing desk via telephone? This can be very helpful to traders who want to manage their positions when there is no internet connection available.

Some brokers offer 'no dealing desk' execution, which means client orders are automatically routed to a higher tier. Please note that some brokers use automated dealing desks. For this purpose we only consider only manual execution as having a "dealing desk".

Some market makers decide to offer their clients fixed spreads, meaning that the spreads do NOT widen at any time, even during highly illiquid periods such as important economic releases. Please note however, that in most such cases, orders will be slipped or not executed, and that these fixed spreads are generally higher than variable spreads, and are not representative of the true market.

Some market makers offer a "no slippage" guarantee on some client orders. This is fairly common for stop-loss orders, but may also be expanded to include all standing orders.

Does the broker allow traders to hold both long and short positions in the same currency at the same time? This is somewhat pointless, but some traders insist on it regardless.

The forex is a 24/5 market but different brokers can choose different times at which they begin and their dealing each week. Some brokers offer "after hours" dealing. This normally incurs higher spread costs due to the thin liquidity though.

This is the timezone of the broker's chart data feed. It can be important in some cases, particularly when it comes to "Sunday bars" on the charts, which are usually not full day bars, and as a result can throw off some technical analysis tools and mechanical trading systems.

The general rule is that market makers do not like scalping, while ECN/STP type brokers don't mind it. Some brokers choose not to follow that rule though. The exact definition of what scalping is can vary from broker to broker also.

Which currencies can your margin account be denominated in? Most brokers offer USD accounts, but an increasing number are starting to let clients have their accounts in EUR, JPY, GBP, and other currencies.

Which languages is the broker's trading platform(s) available in?

Which languages is the broker's customer support available in?

Does the broker offer free demo accounts, and if so, for how long?

Does this broker have live chat support, and when is it available?

Does the broker offer any additional incentives to traders, such as bonuses on their deposits, or trading tournaments with real prizes?

Does the broker offer accounts that do not carry any interest on positions held over night? This is of particular interest to Islamic traders who are prohibited from collecting/paying interest due to religious reasons. Some brokers levy additional charges for such accounts, because they are susceptible to abuse.

EUR/USD spread during normal market conditions. Please note that the actual spread may be wider in illiquid market conditions.

Does the broker pass your orders directly to a higher tier, or do they make a market among their clients and themselves first?

Does the platform offer "One cancels other" order types?

Many brokers offer traders the ability to set trailing stop-loss orders. These orders can be client-side or server-side. Since trailing stops are not real orders in the market, the trading platform has to take care of them. Client-side trailing stops run your computer and are only valid when your trading platform is open and online. Server-side trailing stops run on the broker servers, so they do not depend on you having the platform open.

Does the platform offer conditional order types?

Most forex brokers offer different account types to clients, normally depending on the size of the account. Different trading conditions apply to each account type, with smaller accounts usually being allowed smaller deal sizes, and larger accounts being given lower transaction costs, extra services, better order execution or other promotions.

The number of instruments that this broker has available to trade. If you click on the "Show Details" link, you will see the full list.

Does the platform offer traders the ability to program and deploy automated trading systems?

Do any of the broker's platforms offer a access to the available liquidity, or pending orders that are in the system. This can be very useful in gauging market sentiment and seeing clusters of orders, at least on the ECN that your broker has access to.

Some brokers pay you interest on your unused balance, just for holding money with them. They do sometimes have minimum monthly trading volume requirements if you want to qualify for interest payments.

This is important for short-term traders, as it determines how close to the market price you can place pending orders. The closer, the better for traders.