How We Rate and Review Stock Brokers

Our broker ratings are based on a consistent methodology applied to every broker we review. We evaluate each broker on five dimensions — fees, platform, product range, safety, and customer support — using publicly available data, direct testing, and regulatory filings. This page explains exactly how we arrive at our ratings so you can evaluate them for yourself.

Our Five Rating Dimensions

1. Fees and Costs (25% of overall rating)

We evaluate every cost a broker can charge, not just headline commissions. The factors we assess:

• Trading commissions: Stock/ETF trades, options per-contract fees, futures, mutual funds, bonds
• Margin rates: Tiered rates by balance, compared across brokers
• Account fees: Transfer fees (ACAT out), wire fees, account closure fees, inactivity fees
• Expense ratios: On in-house funds available through the broker
• Currency conversion costs: FX spreads for international trading
• Cash sweep yields: What your uninvested cash earns

We test each broker's platform directly, verify fees against the broker's published fee schedule, and compare across the competitive set. A broker earns a higher fee score when its total cost of ownership — not just its commission structure — is competitive.

2. Platform and Tools (25%)

The trading platform is where investors spend their time. Our assessment covers:

• Web platform: Navigation, order entry, portfolio view, research integration
• Desktop platform: Charting quality, customization, speed, advanced features (scanning, scripting)
• Mobile app: Functionality parity with desktop, ease of use, speed, biometric security
• Order types: Availability of market, limit, stop, trailing stop, conditional orders
• Research and screeners: Quality of third-party research, stock/ETF/options screeners

We test each platform ourselves — placing trades, using the research tools, navigating the mobile app — and report what the experience is actually like. A broker earns a higher platform score when its tools are capable, well-designed, and accessible to its target audience.

3. Product Range (20%)

The breadth of investment options available through the broker:

• Securities offered: Stocks, ETFs, mutual funds, options, bonds, futures, forex, crypto
• Mutual fund selection: Number of no-transaction-fee funds, availability of specific fund families
• Fractional shares: Availability and minimums for partial-share purchases
• International markets: Access to non-US exchanges
• IPO and new issue access

A broker earns a higher product range score when it offers a broad selection of investment types, not just the basics.

4. Safety and Regulation (20%)

The protections that apply to your account. We verify:

• Regulatory registration: SEC, FINRA, and international regulators
• SIPC coverage: Standard $500K protection confirmed
• Excess SIPC insurance: Additional coverage beyond SIPC limits, including type (per-customer vs aggregate) and amount
• Financial stability: Public/private status, years in business, credit ratings, capital reserves
• Regulatory history: Major fines, enforcement actions, settlements
• Security features: 2FA, biometric authentication, security guarantees

All data is verified against FINRA BrokerCheck, SEC EDGAR filings, and the broker's own regulatory disclosures. A broker earns a higher safety score when it has a clean regulatory record, strong financial metrics, and transparent security protections. Our broker safety pages provide the full safety analysis for each broker.

5. Customer Support (10%)

We evaluate the accessibility and quality of customer support:

• Availability: Hours, channels (phone, chat, email), response times
• Quality: Accuracy of information provided, resolution rate for common issues
• Educational resources: Articles, videos, webinars, tutorials

We test customer support by contacting each broker with standard questions and measuring response time and quality. A broker earns a higher support score when it is reachable, responsive, and accurate.

How We Calculate Overall Ratings

Each dimension is scored on a 1-10 scale. The weighted average produces the overall rating:

Overall Rating = (Fees × 0.25) + (Platform × 0.25) + (Product Range × 0.20) + (Safety × 0.20) + (Support × 0.10)

Ratings are rounded to one decimal place. A broker that scores 8.0-10.0 is in the "excellent" range; 6.0-7.9 is "good"; 4.0-5.9 is "adequate"; below 4.0 indicates meaningful concerns.

Data Sources

Every data point in our reviews comes from:

• Broker's official website and fee schedule: The primary source for commissions, fees, and product availability
• FINRA BrokerCheck: Regulatory registration, disclosures, enforcement history
• SEC EDGAR: Financial filings for publicly traded brokers
• SIPC member database: SIPC membership verification
• Direct platform testing: Platform quality, usability, mobile app assessment
• Customer support testing: Response time and quality measurements

We do not rely on broker-provided marketing materials as our sole source. We independently verify claims against regulatory databases and broker fee schedules.

What Our Ratings Do Not Measure

Our ratings do not capture:

• Subjective user experience. We report our own testing and observations. Your experience may differ.
• Investment performance. We evaluate the broker's platform and costs, not the returns of investments you might make through it.
• Suitability for a specific individual. Our ratings are general. The right broker for you depends on your specific needs, priorities, and circumstances.

How Often Ratings Are Updated

We update reviews when a broker changes its fee schedule, launches or materially modifies its platform, or has a significant regulatory event. At minimum, each review is updated annually. The 2026 in each page title indicates the most recent review cycle.

Editorial Independence

We may earn a commission when you open an account through our affiliate links. This does not affect our ratings, our analysis, or which brokers we choose to review. Our methodology — described on this page — is applied consistently to every broker regardless of affiliate status. We review brokers with which we have no affiliate relationship, and we include critical analysis of brokers from which we earn commissions.

Frequently Asked Questions

Why don't you review every broker? We prioritize brokers that are SEC/FINRA regulated, serve US customers directly, and have sufficient market presence to warrant coverage. Some brokers are not reviewed because they do not meet our regulatory threshold. If a broker is not on our list, it may be because it has not passed our regulatory check.

Can a broker's rating change? Yes. When a broker changes its fees, launches new features, or has a regulatory event, we update the review and the rating reflects the new information. A rating from a previous year may not reflect the current state of the broker.

How should I use your ratings? Our ratings provide a starting point for comparison, not a final decision. Read the full review to understand why a broker received its rating. Pay particular attention to the dimension that matters most to you — a broker with a lower overall rating may score higher in the dimension you care about most.

Do you accept payment for higher ratings? No. Our ratings are based on the methodology described on this page, applied consistently. We do not accept payment to modify ratings or to include or exclude brokers.

How do you compare to other broker review sites? We publish our methodology in full so you can evaluate it. We verify all data against regulatory databases and broker fee schedules. We include critical analysis alongside positive findings. See our broker comparison hub for side-by-side data that you can verify independently.

Where to See Our Ratings in Action

Browse the best stock brokers table for an overview of our top-rated brokers. Read the individual broker reviews for the complete analysis behind each rating. Use our broker comparisons to see head-to-head data. Check our broker safety pages for the full safety assessment behind the safety dimension score.

Investing involves risk. The value of investments can go up as well as down and you may receive back less than your original investment. This page contains affiliate links.