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Highest Trustpilot Rating Forex Brokers


Trustpilot is the go-to review spot these days, especially for checking out forex brokers. They collect ratings from traders all over the globe, giving you the real scoop on how these brokers are doing. Take a look at the list below and find out if your favorite broker has made it to the selection.


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Score Broker Trustpilot Rating Rated By Min Deposit Country

Established in 2007, Trustpilot is this fabulous Denmark-based online space offering a comprehensive rating system designed for retailers and service providers. This platform plays a pivotal role in assisting prospective customers in making well-informed purchasing decisions while enabling businesses to refine and elevate their customer experience strategies.

By the end of 2020, Trustpilot had grown big time and now got over 120 million reviews on more than 529,000 businesses. They're based in Copenhagen but have offices everywhere – London, New York, Melbourne, and more. They even went public on the London Stock Exchange in 2021, raking in a crazy £473 million (around $665 million) in the exchange's biggest IPO in almost ten years.

Trustpilot reviews come from people worldwide who've had buying or service experiences with a broker. It's free to write a review if they have a Trustpilot account, follow Reviewer Guidelines, and have no conflicts of interest with the broker they're reviewing.

Any traders can leave a star rating for brokers they've interacted with, shaping a TrustScore from 1 to 5, where 5 signifies excellence and 1 represents a less positive experience. Factors like recency, frequency of reviews, and Bayesian average influence it. In addition, users can comment on various aspects, such as product quality and service, further contributing to the overall picture.

Yes, but you should not 100% believe what was written there. It's essential to not fully trust when interpreting the content on the platform since businesses might occasionally manipulate the system to boost their TrustScores.

Trustpilot has implemented a new "transparent flagging" feature, allowing users to find out the number of reviews a company has flagged. Moreover, the platform now issues a transparency report outlining its initiatives to mitigate any misuse of flagging mechanisms.

See Also: How to Avoid Fake Broker Reviews


Discover four effective methods of how brokers try to encourage clients to share reviews, enhancing their collection of valuable feedback on Trustpilot:

  • During interactions, ask customers to review their broker.
  • Use Automated Feedback Service (AFS) to easily invite customers after signing up for a broker or using certain features.
  • Embed TrustBoxes for reviews and review count display on the broker's website.
  • Include customized pamphlets or brochures, guiding clients to review a broker.

See Also: Highest General Rating Forex Brokers


Trustpilot designates a review as "Verified" when the reviewer's genuine experience with the broker has been verified. This occurs through automated invitation tools or when the reviewer provides documentation of their buying or service interaction.

Firstly, all Trustpilot-invited reviews receive the "Verified" badge. Brokers are encouraged to use automated email invitation tools, ensuring equal and identical invitations to all customers. Neutral language and adherence to Guidelines for Businesses ensure the authenticity of these reviews.

Secondly, reviewers can offer documentation of their interaction with a broker to validate their review. This is particularly relevant if a business questions the authenticity of a review. Trustpilot Content Integrity Team handles flagged reviews and, upon receipt of appropriate documentation, marks the review as "Verified."

See Also: Comparing Forex Brokers' Ratings


Additional FAQ

A good broker must be able to ensure the safety of the client's funds. Aside from obtaining licenses from trusted authorities, it's also important to have preventive measures that could save traders from doom. One of the easiest examples is negative balance protection, which ensures that traders are never in debt with their broker. In other words, the trader's balance will never be negative. This is why it's an important aspect that every good broker must have.

Some traders may not find this feature that significant, but it's something that many people would be grateful for. The truth is that there have been many cases where traders ended up owing money to their brokers. To prevent a repetition of similar events, the availability of negative balance protection can be very helpful.

Continue Reading at 5 Things to Rate in Forex Brokers Quality

A good forex broker must offer at least major forex pairings, such as EUR/USD, GBP/USD, etc. These are the most common pairs to trade and great choices for all types of traders, so this is one of the standard qualities to be considered in a broker. If you're interested in other assets aside from forex, go for multi-asset brokers. Stocks and metals are pretty common among brokers these days, but the more assets they offer, the better.

It is worth noting that while a big number of tradable instruments can be a nice feature to offer, keep in mind that this aspect does not guarantee the broker's success. The reason is that not all clients are particularly searching for brokers with loads of varieties. Some of them might even find it a bit overwhelming. This is why there are brokers that remain popular among traders despite their limited choices of assets or currency pairs.

Continue Reading at 5 Things to Rate in Forex Brokers Quality

Trading conditions are a great way to start because they are basically the foundation of the broker service itself. This includes the amount of trading spreads and commissions, leverages, and more. Trading conditions can directly impact the trader's overall trading cost, making it a critical aspect of any broker's selling value. Great pricing must be one of the top priorities to offer to potential clients, especially with the cut-throat competition between brokers these days.

Moreover, since standard regulations are starting to take effect, regulated brokers can no longer offer fantastic bonuses or exaggerated promises of high returns. Instead, they can offer low fees to reduce the trader's cost, combined with a transparent trading ecosystem and no hidden fees.

Continue Reading at 5 Things to Rate in Forex Brokers Quality

Essentially, there are four types of brokers based on their execution model, namely Market Makers, Electronic Communication Network (ECN), Direct Market Access (DMA), and Straight Through Processing (STP). Market Makers are called Dealing Desk brokers, while ECN, DMA, and STP are called No Dealing Desk (NDD) brokers. Using a Dealing Desk or NDD broker can affect the trader's trading cost.

There is no such thing as a "bad" execution model, but not all models are suitable for everyone. For beginners, STP brokers are highly recommended. These brokers act as a middleman, typically offers variable spreads, and don't charge commissions. Other benefits of trading with an STP broker are faster-filling orders, the freedom to avoid price quotes, less risk compared to other types of brokers, and the availability of live market trends.

Continue Reading at 5 Things to Rate in Forex Brokers Quality