OnlineTrading aims to provide quality, simple, and proven information to its readers. Our team of financial experts carefully checks every detail to provide a unique and comprehensive guide to safe trading around the world.
Feedback from regular users is very important to us, so we try to consider the opinions of reviews and feedbacks from several trusted platforms. We spend about 100 – 250 hours analysing and collecting information on each trading platform to ensure our recommendations are reliable.
Naturally, we always remain impartial, honest and recommend only licensed and reliable brokers.
Testing process of trading platforms
1. We first check whether the trading platform is licensed, how long it has been on the market and the broker’s reputation.
2. Next, we conduct independent testing of the trading platform functionality.
3. After that, our automatic system analyses the reviews and ratings of regular platform users on Google Play, App Store, Trustpilot, etc.
4. At the final stage, we compare the trading platform in terms of service quality, functionality, reviews, and other essential parameters with other platforms to assess it.
What is included in functional testing:
- monitoring quotes,
- diagrams for virtual trading in real-time,
- market update,
- technical analysis indicators,
- other additional functions.
We check if the broker can provide a sufficient amount of functionality for comfortable trading. It is crucial that the platform runs smoothly and keeps up with the times.
What is included in the detailed testing of the trading platform:
Safety. This is the most crucial factor we consider when analysing platforms. The broker must be licensed and regulated in the country we consider.
Trading conditions. We always indicate the commission, deposits, payment and withdraw options and other conditions that the broker offers.
Robots that control trading processes on the broker’s servers. We take into account how they affect the trading process.
All trading platforms functioning. The broker’s trading platforms and applications must work equally well when used on different gadgets, impacting trading quality. We check trading platforms on smartphones (Android and iOS), tablets, PCs, and laptops.
Educational materials. It is very important that the platform has educational materials. We appreciate how useful and easy they are to learn. This is important for new brokers and experienced ones who see the point in continuing to develop.
When evaluating broker security, we rely on leading industry governing agencies:
- Financial Conduct Authority (FCA). It is the main regulator of the UK financial sector.
- Securities and Exchange Commission (SEC). The main regulatory commission is responsible for protecting investors and capital markets in the United States.
- Cyprus Securities and Exchange Commission (CySEC). It is an independent EU regulatory body that oversees investment services and transferable securities transactions.
- Investment Industry Regulatory Organization of Canada (IIROC) and Canadian Securities Administrators (CSA). Canada’s two main regulatory bodies control general investment and trading opportunities across the country and protect Canadian investors from fraud.
- Australian Securities and Investments Commission (ASIC). It is an Australian regulatory body which controls the financial market and providers of financial services in the country.
- Financial Sector Conduct Authority (FSCA). Regulation and supervision on the South Africa market are conducted by FSCA.
- Monetary Authority of Singapore (MAS). Monetary policy, banking, and finance in Singapore are controlled by MAS.
We regularly update the licensing information of the recommended brokers to ensure the latest info for our readers.
User reviews – our must-have
The opinion of traders who constantly use the platform or have just started is very important for us. It helps us see the platform and its functionality from different angles. We make sure to take into account the reviews and reviews of other experts and ordinary traders to provide the most accurate information possible.
Our automated tools enable us to collect millions of reviews and compare them to create a more accurate, honest, and informed review.