Holistic Broker Evaluation Framework
A broker evaluation should consider your complete trading context—frequency, strategy complexity, experience level, and support needs. This framework helps match broker capabilities to your specific requirements.
What to assess systematically
Broker/platform scoring matrix
| Factor | Good indicators | Concerning signs | Weight for active traders | Weight for occasional traders |
|---|---|---|---|---|
| Execution quality | Fast fills, clear confirmations, low rejection rate | Frequent rejections, delayed fills, unclear status | Critical (40%) | Important (25%) |
| Risk management tools | Margin preview before order, MTM alerts, portfolio Greeks | No visibility until after trade, surprise margins | Critical (30%) | Important (20%) |
| Customer support | Quick resolution, available during market hours | Slow responses, unavailable when needed | Important (15%) | Critical (30%) |
| Platform usability | Intuitive interface, few clicks, mobile parity | Confusing layout, many steps, poor mobile | Important (10%) | Important (15%) |
| Research/education | Quality recommendations, educational content | No research or generic content | Nice-to-have (5%) | Important (10%) |
A broker "review" is most useful when it reflects your specific strategy needs and trading frequency. Active intraday traders prioritize speed and cost; occasional position traders value support and guidance; systematic strategy traders need reliable order types and spread support. Identify your profile first, then weight evaluation criteria accordingly.