On this page
Where we are today
We haven’t yet published results from our own test accounts. Our broker pages are built from regulators’ registers and notices and from the brokers’ own published information, and every figure is labelled with where it came from. When measured results are added, they’ll carry the date they were measured, and the page’s “Updated” date will change.
The criteria we review brokers on
We review every broker on the same criteria. They’re the ones in our guide to choosing a forex broker:
| Criterion | What we check |
|---|---|
| The company and its regulator | Which company holds accounts for residents of each country, and whether it’s on the regulator’s register (CMA in Kenya, FSCA in South Africa, SEC in Nigeria) |
| Local deposits and withdrawals | Methods in the local currency that the broker documents itself, minimums, fees, and the same-name rule |
| Costs | Spreads, commissions, overnight swaps, and conversion and payment fees |
| Leverage and protections | Maximum leverage, local caps, negative balance protection and stop-out rules |
| Swap-free terms | Who gets it, which instruments it covers, replacement charges and when it can be withdrawn |
| Platforms and accounts | Platforms offered, account types, minimum deposits, cent and demo accounts |
| Support and safety | Official support channels, regulator warnings about the broker or impersonators |
Where a competitor does better than Exness on one of these criteria, we say so, even though Exness is the broker we recommend.
How we check licences
We never rely on a licence number shown on a broker’s website. We look the company up on the regulator’s own register and note the date we checked. If we can’t confirm a licence ourselves, the page says “reported” and names the source. We re-check registers whenever we update a page.
How we use brokers’ own information
We prefer a broker’s own pages, such as its help centre, legal documents and country sites, to third-party reviews. Some brokers’ websites block automated access. When we’ve had to rely on a search-engine extract of an official page, we say so and list the figure for checking in a live account. Third-party sources are used only when nothing better exists, and they’re labelled.
How payment tests will work
Brokers tie payment methods to the country an account is registered in. A test from Lagos tells you nothing about Nairobi. So:
- Test accounts are opened by people who live in the country we’re writing about, using their own documents.
- For every deposit and withdrawal, we record:
| What | Example |
|---|---|
| Country of registration | Nigeria |
| Broker and account type | Exness, Standard |
| Method | Naira online bank transfer |
| Amount | Paid and credited, in both currencies |
| Requested | Date and time submitted |
| Received | Date and time the money arrived |
| Fees | Anything charged by the broker, bank or wallet |
| Day | Weekday or weekend |
Screenshots are dated, and names, account numbers, phone numbers and document details are blurred.
Stated versus measured
Brokers publish their own figures, such as “instant” withdrawals. We quote them as the broker’s figures. A time is labelled as measured only when we measured it, and it carries the date. We don’t publish measurements we haven’t taken.
Keeping pages current
Payment methods, limits, licences and laws change. We aim to re-check payment pages every 60 days and legal sections whenever a regulator acts, such as on Nigeria’s proposed SEC rules. The “Updated” date on a page changes only when its content changes.
Calculators
We check each calculator against the formulas shown on its page and against the values a trading platform shows for the same inputs.
The limits of our reviews
A few accounts can’t cover every bank, every amount or every day of the week, and rules can change between our checks. If your experience differs from what we’ve written, please contact us. Our editorial policy explains how we handle corrections.