The Ledger / Broker research desk

Know the broker. Know the contract.

Compare what can be documented: the legal entity taking your money, account-level costs, trading platforms, and questions that still need a verified answer.

Evidence before ratings5

entity-scoped broker profiles

4

original research guides

Source review: 17 October 2026. No live trade testing or verified safety rankings.
Before the trading platform

Five questions that matter more than a star rating

Broker research dossiers

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Issuer-source research on five named entities, alongside a 20-brand international comparison directory with recognizable logos. These five dossiers should not be mistaken for twenty completed reviews. We have not independently authenticated the latest FCA/NFA register status or tested these firms with real accounts.

5 profiles shown · Alphabetical, not ranked

United Kingdom · Issuer-sourced profile

CMC Markets (UK — CMC Markets UK plc)

CMC Markets UK plc

CMC publishes detailed UK contract and platform information. This guide shows which claims can be sourced and which still need direct verification.

Platforms documented
Next Generation, MetaTrader 4
Account / pricing
UK spread betting and CFD accounts, subject to eligibility
Research date
17 October 2026

Research dossier · Not a rating or recommendation. Regulator-register confirmation pending.

Read the research dossier
United States · Issuer-sourced profile

FOREX.com (GAIN Capital Group LLC, US)

GAIN Capital Group LLC

FOREX.com's US fee schedule is detailed enough for a realistic commission example. It is not evidence that its actual trading cost is lower than competitors'.

Platforms documented
FOREX.com Web/Mobile, TradingView, MetaTrader 4 (spread-only account) + more
Account / pricing
Spread-Only · RAW Pricing
Research date
17 October 2026

Research dossier · Not a rating or recommendation. Regulator-register confirmation pending.

Read the research dossier
United Kingdom · Issuer-sourced profile

IG (UK CFDs — IG Markets Limited)

IG Markets Limited

IG's UK branding covers more than one product and legal arrangement. Here's how to check the contracting entity and full trading costs before comparing.

Platforms documented
IG proprietary web/mobile, Third-party choices: verify for account
Account / pricing
UK CFD and spread betting offerings; separate contractual entities and terms can apply
Research date
17 October 2026

Research dossier · Not a rating or recommendation. Regulator-register confirmation pending.

Read the research dossier
United States · Issuer-sourced profile

OANDA Corporation (US)

OANDA Corporation

OANDA Corporation's own materials establish a useful research trail for platforms, fees and regulatory claims—but not a recommendation or a verified execution score.

Platforms documented
OANDA Trade, MetaTrader 4, TradingView (subject to terms)
Account / pricing
Account models and suitability must be confirmed on current US pages
Research date
17 October 2026

Research dossier · Not a rating or recommendation. Regulator-register confirmation pending.

Read the research dossier
United Kingdom · Issuer-sourced profile

Pepperstone (UK — Pepperstone Limited)

Pepperstone Limited

Pepperstone's Standard and Razor accounts are not interchangeable on fees or software. We read the UK terms and identify what a trader still needs to verify.

Platforms documented
Pepperstone platform, MetaTrader 4, MetaTrader 5 + more
Account / pricing
Standard CFD · Razor CFD
Research date
17 October 2026

Research dossier · Not a rating or recommendation. Regulator-register confirmation pending.

Read the research dossier
Side-by-side research

Compare legal entities and account terms.

Choose up to three broker dossiers and examine fees, platform compatibility, regulator disclosure and evidence gaps in one place. Cross-country comparisons carry additional product limitations.

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Original abstract illustration of broker verification paperwork

Essential broker guides

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Review sources and responsible research

Use community experiences as clues, not proof.

Broker directories can help uncover questions about platform reliability, withdrawals and service. Their stars are not our ratings. Review sites may contain promotional placements or unevenly sampled feedback. Cross-check every serious claim against the contractual entity, primary documents and relevant regulator.

How to evaluate community reports →
Attributed experiences · Review research

Fifteen trader perspectives, five broker brands.

Browse individual accounts involving Pepperstone, Exness, FXCM, OANDA and XM. Positive opinions and complaint allegations are labeled, sources are shown when traceable, and unverified reviews are not described as established facts or independently scored rankings.

Read the 15 trader-review stories ↗

Broker research disclosure: Profiles are alphabetical, no paid rankings or broker endorsement is implied, and our newsletter or site does not request trading deposits. Current legal status, eligibility, actual costs and trade execution must be verified independently. Leveraged forex and CFDs carry substantial risk.