Most broker rankings are paid leaderboards in disguise. The broker that pays the most sits at the top, and the “review” is written to justify it. The desk does not work that way. Every broker on KenMacro is scored against the same fixed model, and the commission a broker pays has a weighting of exactly zero in that score.
This page is the model in full, so you can see the reasoning behind every verdict and decide whether you agree with it.
Two things that never change
Zero paid placements. No broker can buy a higher score, a better verdict or a higher position. Affiliate relationships are disclosed on every page and have no influence on the rating.
Watch-outs on every broker. If the desk recommends a broker, it still tells you who should avoid it and why. A review with no downside is an advert.
The KenMacro Desk Score
Each broker is scored out of 10, built from six weighted components. The weights reflect what actually protects and serves a retail trader, in order: the entity holding your money first, then what it costs you, then whether you can get paid and supported, then the platform and execution, then how well it fits a macro-led way of trading, then how honestly its risks are disclosed.
Regulation and entity 25%
Which regulator and which legal entity you actually sign with, not the brand on the homepage. Tier-1 cover (FCA, ASIC, CySEC) scores highest; offshore entities score lower and are flagged, not hidden. Client-fund segregation and compensation schemes count here.
True trading cost 20%
The all-in cost per round-turn: spreads, commission and overnight swaps together, on the instruments that matter, including gold and indices. Headline “zero commission” accounts with wide spreads do not score well here.
Withdrawals and support 15%
The part most reviews skip. Track record on getting money out cleanly, withdrawal speed and friction, and whether support is reachable and useful when something goes wrong.
Platform and execution 15%
Platform fit (MT4, MT5, TradingView, cTrader), fill quality, slippage on news and on gold and index execution, and whether the mobile experience holds up for active trading.
Macro trader fit 15%
The component you will not find on a generic comparison site. How well the broker suits a macro-led approach: access to the dollar, gold, oil, indices and rates instruments the desk actually trades, sensible leverage, and an account structure that does not get in the way of a thesis-driven style.
Risk and watch-out transparency 10%
How clearly the broker discloses its own downsides: the entity you trade under, leverage risk, and who it is genuinely not suitable for. Honesty is scored, not punished.
Why commission does not decide the ranking
KenMacro earns a referral commission when a reader opens an account through one of its broker links, at no extra cost to the trader. That is disclosed on every broker page. It is also kept completely separate from the scoring. The commission a broker pays is not one of the six components above and never adjusts a score, a verdict or a position.
The reason is simple self-interest. A broker that costs you money on withdrawals or execution will lose you as a trader, and a churned trader is worth nothing to anyone. Routing readers to genuinely suitable brokers is the only model that survives. That is why the watch-out exists even on the brokers the desk recommends.
Reviewed by Ken Chigbo
Founder of KenMacro and 18 years in markets, across a London trading floor and institutional FX. Every broker assessment is built on the same model above and reflects how the desk itself chooses where to route capital. The brokers are reviewed and re-checked, not lifted from a press release.
Want the model applied to your situation? Let the desk route you.
Or read the full broker reviews.
KenMacro earns referral commissions from disclosed broker partnerships, at no extra cost to the trader, and these have no bearing on scores or rankings. CFDs are leveraged and most retail accounts lose money. Always confirm the entity that applies to your country before depositing. Educational information, not financial advice.