What do we look at when assessing a broker?
A broker's credibility is shaped by multiple factors. We evaluate all of the following — not just the regulatory claim on the homepage.
How do we actually investigate a broker?
This process is designed to minimise error, prevent premature conclusions, and protect the rights of both traders and brokers.
Gathering community reports
We collect user submissions, public documents, screenshots, correspondence, and information published by the broker itself.
Undercover account testing
Team members open real accounts anonymously, trade with actual funds, and test the full deposit and withdrawal cycle first-hand.
Months of market presence
We monitor broker behaviour across different market conditions over weeks or months — not just during normal, low-volatility periods.
Reading every user review
We read all available user feedback from WikiFX, Trustpilot, IranBroker, FPA, and BrokersView, looking for patterns — not isolated incidents.
Full account monitoring
We monitor account conditions including spread changes, execution delays, and any unilateral modifications to trading terms.
Real deposits and withdrawals
We test the complete money flow with our own capital — from deposit through to withdrawal — and document every stage.
Candle-by-candle chart analysis
We compare the broker's price chart against reference market data at the candle level, looking for artificial spikes that trigger client stop-losses.
Summary and publication
Findings are published with a clear separation of fact, claim, and analysis — and can be revised if credible new evidence emerges.
Candle-by-candle chart analysis — detecting price manipulation
One of the most technical and important parts of our review process is comparing a broker's price chart in detail against reference price feeds in the market. This is done candle by candle, typically on lower timeframes.
The goal is to identify moments when the price displayed by a broker deviates from the real market price abnormally and briefly — just long enough to trigger a client's stop-loss or take-profit level, before returning quickly to the normal price.
Instantaneous spikes that appear only on a specific broker's platform, and which precisely activate client orders, are among the most significant indicators of price manipulation.
Three principles that govern every review
Evidence-based
Every claim must be supported by verifiable evidence, a report, or reviewable data — not speculation or rumour.
Independent of advertising
Review outcomes are determined by actual broker performance — not by advertising budgets or public relations.
Subject to revision
Sources, screenshots, and raw data are preserved wherever possible so that every report can be verified and revisited.
Questions about our review methodology
Yes. BrokerAlarm is fully independent. Review outcomes are determined solely on the basis of evidence gathered from user reports, real account testing, and data analysis.
Each report is reviewed individually and, where possible, cross-referenced with documentation. Recurring patterns across multiple reports carry greater weight in the final assessment.
It examines whether the price displayed by a broker at any given moment matches reference market feeds. Instantaneous spikes visible only on a specific broker's platform — and which precisely trigger client stop-loss orders — are key indicators of price manipulation.
A full review typically takes several weeks to several months, as it requires monitoring broker behaviour under varied market conditions, testing real deposits and withdrawals, and gathering sufficient user feedback.
Yes. You can submit your report anonymously through the exposé submission page. The review team will follow up without disclosing your identity.
Have a report about a broker?
If you have experienced withdrawal issues, misleading advertising, or suspicious behaviour from a broker, submit your report anonymously for review.
Submit an Anonymous Report →