Choose the Right Broker.
Avoid Costly Mistakes.
Trade the Day.

Why your broker choice matters

The wrong broker costs you money every day

Most traders spend hours on strategy and minutes on broker selection. That's backwards. Your broker affects every trade you make.

A quick example

Two brokers: one charges 0.8 pips on EUR/USD, another charges 1.5 pips. Seems small. But if you're trading 5 times a day at 1 lot, that 0.7 pip difference adds up to about $8,750 per year. That's before swap rates and withdrawal fees.

Execution matters more than advertised spreads

Some brokers advertise 0.0 spreads but slip your entries by 2 pips when markets move fast. Others show 0.8 spreads and fill you instantly at quoted prices. The "cheap" broker often costs more when you're actually trading. We test execution during volatile sessions before recommending anyone.

Regulation is insurance, not paperwork

When the Swiss National Bank dropped the EUR/CHF floor in 2015, several unregulated brokers went bankrupt overnight. Their clients lost money. Traders with FCA or ASIC-regulated brokers had their funds protected. We only list brokers with proper regulation.

Why we built this

We've watched too many traders lose money to the wrong broker before figuring it out. The matcher we built asks about your trading style and matches you based on what actually matters for how you trade. No sales pitch. Just the data.

How we rate brokers at TradeTheDay

We're picky about who we recommend

We don't just list brokers who pay us. Every broker goes through a proper review before appearing on the site.

We check their licenses ourselves

We verify licensing directly with regulators. Brokers need at least one tier-1 license (FCA, ASIC, MAS, or FINMA) or multiple tier-2 licenses (CySEC, DFSA, FSA). Offshore-only brokers don't make the cut, regardless of budget.

We open real accounts and document real costs

Advertised spreads and actual spreads are often different things. We track spreads during London open, New York overlap, and quiet sessions. We note every commission, swap rate, and withdrawal fee. A few brokers claim "0.0 spreads" but add commissions that make them more expensive than honest competitors.

We test during chaos

NFP releases. Rate decisions. Sunday opens. That's when you find out if a platform actually works. Brokers that disconnect or requote heavily during volatile sessions get flagged.

We contact support like a real customer

Different times. Different questions. Different channels. How a broker handles problems tells you more than their marketing.

We keep checking

Ratings get updated quarterly. Brokers change over time. One that was solid two years ago might have slipped. We catch it.

Broker types and fees explained

The "best" broker depends on how you trade

Different broker models work better for different trading styles. Here's how they actually work.

Market makers vs ECN brokers

Market makers take the other side of your trade internally. They profit from spreads and, sometimes, your losses. Sounds bad, but they also offer guaranteed fills and fixed spreads. For beginners who want predictable costs, that's often worth it.

ECN/STP brokers route your orders to liquidity providers like banks. They make money from commissions only. You get raw interbank spreads (sometimes 0.0 pips) but pay commission per lot. Better for scalpers and anyone trading high volume.

Spread-only vs commission pricing

Spread-only: What you see is what you pay. EUR/USD shows 1.2 pips? That's your cost. Simple. Works well for beginners and swing traders.

Commission-based: Raw spreads (0.0-0.2 pips) plus $3-7 per lot. Requires a bit more maths to compare costs, but usually cheaper for active traders. Scalpers tend to prefer this.

So which should you pick?

Trading a few times a week? Spread-only is simpler and often cheaper. Scalping 20+ times a day? Commission-based accounts will save you money. Our matcher factors in your trading frequency when making recommendations.