Mwali International Services Authority (MISA), ComorosNone — Cook Islands company registration onlyNone — St Vincent and the Grenadines company registration only
No press accounts, no demo logins, no analyst contact at the broker. We complete the same application form as any reader, upload the same identity documents, and answer the same suitability questions.
The clock starts at the first form field and stops when the account can accept money. Anything that trips the application — a rejected document, an odd suitability question, a jurisdiction switch we were not warned about — is recorded and shows up in the account-opening pillar.
Accounts opened
10
Median KYC time
1 day
02
We fund it with our own money
Every broker receives a real deposit from our own budget, sent through the payment method most readers will use rather than the one the broker prefers. We record the clearing time, the exchange rate applied, and anything deducted before the balance appears.
This is the point where a large share of the fee story emerges. Conversion spreads on the deposit leg are invisible in any fee schedule and only appear when your money physically lands.
Capital deployed
£18,000
Minimum per broker
£300
03
We trade it, in calm markets and in news
At least forty live orders go through each platform: market, limit, stop and, where supported, trailing orders. Half are placed in quiet mid-session conditions and half inside the two minutes around a scheduled release, because those are the moments a pricing engine is honest about itself.
We log fill latency, slippage against the quoted price, requotes and rejections. Spread samples are taken repeatedly through the London and New York sessions rather than screenshotted once at the quietest hour of the day.
Live orders placed
400+
Spread samples
9,600+
04
We take all the money back out
At the end of testing we request a full withdrawal of the remaining balance and start a stopwatch. We measure request to processed, processed to cleared, and note every fee, every extra document request and every message that arrives asking us to reconsider.
Withdrawal behaviour carries fifteen per cent of the score on its own. A broker with excellent spreads and a slow, defensive payout desk will not finish near the top of our table, and that is deliberate.
Full withdrawals
10
Fastest cleared
4 hours
05
We score, cross-check and date it
Each of the eight pillars is scored from the recorded evidence, then combined using the fixed public weights. Nothing is scored from memory or from the broker's own material.
Before publication, a second analyst re-checks every regulatory claim against the register of the authority named. Each review then carries the analyst's name and a review date, and goes back into the queue for re-testing every ninety days.
Designs the testing protocol and runs the execution and slippage work. Has personally opened, funded and emptied more than forty live trading accounts since 2019.
10รีวิวในฉบับนี้
42บัญชีจริงที่เปิด
Ex-execution analyst, London brokerage
PN
Priya Nair
Regulation & Safety Lead
Verifies every licence against the issuing regulator's public register and writes the trust and safety assessment. Nothing publishes until her fact-check is signed off.
10รีวิวในฉบับนี้
16บัญชีจริงที่เปิด
Compliance, EU investment firms
MR
Marco Rossi
Markets & Platforms Analyst
Stress-tests platforms and pricing, runs the spread sampling schedule, and compares tooling across MT4, MT5, cTrader and proprietary web terminals.
