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How We Review Brokers & Prop Firms

The criteria, weights and process behind every rating on TradingFormula.com.

Our process

  1. Collect primary data from each firm’s website, legal documents and — for brokers — the regulator’s public register.
  2. Score five categories from 1 to 5 using the criteria below.
  3. Weight and combine the scores into an overall rating.
  4. Re-verify key figures at least every 90 days and whenever a firm announces changes. Each review shows its last-verified date.

Prop firm criteria

CategoryWeightWhat we assess
Rules30%Clarity and fairness of drawdown, daily loss and consistency rules
Payouts25%Frequency, reliability, minimums and first-payout conditions
Costs20%Evaluation fees, resets and activation fees
Platforms15%Platform choice, data feeds and execution
Support10%Responsiveness and quality of help

Broker criteria

CategoryWeightWhat we assess
Regulation30%Tier of regulators, client-fund segregation, protection schemes
Costs25%All-in spread plus commission on major instruments, swap and non-trading fees
Execution15%Execution model and quality
Platforms20%Platform choice, tools and mobile apps
Support10%Availability and quality

Independence

Firms cannot pay for a rating or review changes. Partners with a commercial relationship are labeled Sponsored wherever they appear, and are scored with exactly the same criteria.

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