Trading Business Review

Independent broker audits, reviews and intelligence

TBR Audits

Audit registry

Independent, evidence-based audits of trading firms. Every audit checks licences against regulator registers and publishes every finding. Full audits also test payouts and execution with live accounts; desk audits use public sources only and say so. This is the public record of all of them, current and expired.

Audits published
60
Currently valid
60
Desk audits
59

Top-graded firms

TBR VERIFIED AUDIT · INDEPENDENT · AAA 83/100

Retail Broker

XM Preferred

Exceptional · TBR-A-2026-001

 TBR DESK AUDIT · PUBLIC SOURCES · AAA 82/100

Retail Broker

Swissquote

Exceptional (desk audit) · TBR-A-2026-041

 TBR DESK AUDIT · PUBLIC SOURCES · AAA 81/100

Retail Broker

Trading 212

Exceptional (desk audit) · TBR-A-2026-044

 TBR DESK AUDIT · PUBLIC SOURCES · AAA 80/100

Retail Broker

Plus500

Exceptional (desk audit) · TBR-A-2026-002

 TBR DESK AUDIT · PUBLIC SOURCES · AA 78/100

Retail Broker

Capital.com

Very strong (desk audit) · TBR-A-2026-027

 TBR DESK AUDIT · PUBLIC SOURCES · AA 78/100

Retail Broker

CMC Markets

Very strong (desk audit) · TBR-A-2026-022

 TBR DESK AUDIT · PUBLIC SOURCES · AA 78/100

Retail Broker

IG

Very strong (desk audit) · TBR-A-2026-021

 TBR DESK AUDIT · PUBLIC SOURCES · AA 77/100

Retail Broker

Dukascopy

Very strong (desk audit) · TBR-A-2026-049

 TBR DESK AUDIT · PUBLIC SOURCES · AA 76/100

Retail Broker

FxPro

Very strong (desk audit) · TBR-A-2026-007

All audits

ReferenceFirmTypeGradeScoreLast updatedStatusReport
TBR-A-2026-001 XM PreferredRetail BrokerAAA83Valid to 2 Oct 2027View audit
TBR-A-2026-029 ActivTrades Retail BrokerAADesk72Valid to 10 Oct 2027View audit
TBR-A-2026-059 ATFX Retail BrokerBBBDesk57Valid to 10 Oct 2027View audit
TBR-A-2026-028 AvaTrade Retail BrokerADesk60Valid to 10 Oct 2027View audit
TBR-A-2026-034 Axi Retail BrokerBBBDesk50Valid to 10 Oct 2027View audit
TBR-A-2026-046 BlackBull Markets Retail BrokerADesk63Valid to 10 Oct 2027View audit
TBR-A-2026-027 Capital.com Retail BrokerAADesk78Valid to 10 Oct 2027View audit
TBR-A-2026-022 CMC Markets Retail BrokerAADesk78Valid to 10 Oct 2027View audit
TBR-A-2026-055 Deriv Retail BrokerADesk60Valid to 10 Oct 2027View audit
TBR-A-2026-054 D Prime (formerly Doo Prime) Retail BrokerBBDesk49Valid to 10 Oct 2027View audit
TBR-A-2026-049 Dukascopy Retail BrokerAADesk77Valid to 10 Oct 2027View audit
TBR-A-2026-045 Eightcap Retail BrokerADesk69Valid to 10 Oct 2027View audit
TBR-A-2026-053 Equiti Retail BrokerBBBDesk55Valid to 10 Oct 2027View audit
TBR-A-2026-030 Exness Retail BrokerBBBDesk58Valid to 10 Oct 2027View audit
TBR-A-2026-038 FBS Retail BrokerBBBDesk53Valid to 10 Oct 2027View audit
TBR-A-2026-042 FOREX.com Retail BrokerAADesk73Valid to 10 Oct 2027View audit
TBR-A-2026-047 Fusion Markets Retail BrokerAADesk70Valid to 10 Oct 2027View audit
TBR-A-2026-026 FXCM Retail BrokerBBBDesk55Valid to 10 Oct 2027View audit
TBR-A-2026-052 FXOpen Retail BrokerBDesk39Valid to 10 Oct 2027View audit
TBR-A-2026-032 FXTM Retail BrokerBBBDesk53Valid to 10 Oct 2027View audit
TBR-A-2026-048 GO Markets Retail BrokerADesk68Valid to 10 Oct 2027View audit
TBR-A-2026-060 Hantec Markets Retail BrokerADesk62Valid to 10 Oct 2027View audit
TBR-A-2026-031 HFM Retail BrokerBBBDesk53Valid to 10 Oct 2027View audit
TBR-A-2026-021 IG Retail BrokerAADesk78Valid to 10 Oct 2027View audit
TBR-A-2026-040 InstaForex Retail BrokerBBBDesk51Valid to 10 Oct 2027View audit
TBR-A-2026-024 Interactive Brokers Retail BrokerADesk68Valid to 10 Oct 2027View audit
TBR-A-2026-056 JustMarkets Retail BrokerBBBDesk56Valid to 10 Oct 2027View audit
TBR-A-2026-036 Libertex Retail BrokerBBDesk41Valid to 10 Oct 2027View audit
TBR-A-2026-039 LiteFinance Retail BrokerBBDesk49Valid to 10 Oct 2027View audit
TBR-A-2026-050 Markets.com Retail BrokerBBBDesk59Valid to 10 Oct 2027View audit
TBR-A-2026-043 NAGA Retail BrokerADesk61Valid to 10 Oct 2027View audit
TBR-A-2026-025 OANDA Retail BrokerADesk68Valid to 10 Oct 2027View audit
TBR-A-2026-057 PU Prime Retail BrokerBBDesk49Valid to 10 Oct 2027View audit
TBR-A-2026-037 RoboForex Retail BrokerBBDesk44Valid to 10 Oct 2027View audit
TBR-A-2026-023 Saxo Retail BrokerADesk61Valid to 10 Oct 2027View audit
TBR-A-2026-041 Swissquote Retail BrokerAAADesk82Valid to 10 Oct 2027View audit
TBR-A-2026-035 ThinkMarkets Retail BrokerAADesk70Valid to 10 Oct 2027View audit
TBR-A-2026-058 TMGM Retail BrokerBBBDesk56Valid to 10 Oct 2027View audit
TBR-A-2026-051 Trade Nation Retail BrokerAADesk71Valid to 10 Oct 2027View audit
TBR-A-2026-044 Trading 212 Retail BrokerAAADesk81Valid to 10 Oct 2027View audit
TBR-A-2026-033 Vantage Retail BrokerADesk66Valid to 10 Oct 2027View audit
TBR-A-2026-013 Alpari Retail BrokerBBDesk45Valid to 9 Oct 2027View audit
TBR-A-2026-011 BDSwiss Retail BrokerBDesk33Valid to 9 Oct 2027View audit
TBR-A-2026-015 Binomo Retail BrokerCDesk23Valid to 9 Oct 2027View audit
TBR-A-2026-018 IQ Option Retail BrokerBBDesk43Valid to 9 Oct 2027View audit
TBR-A-2026-016 IronFX Retail BrokerBBDesk43Valid to 9 Oct 2027View audit
TBR-A-2026-012 Octa Retail BrokerBDesk36Valid to 9 Oct 2027View audit
TBR-A-2026-014 Olymp Trade Retail BrokerBDesk38Valid to 9 Oct 2027View audit
TBR-A-2026-019 Pocket Option Retail BrokerCDesk11Valid to 9 Oct 2027View audit
TBR-A-2026-020 Quotex Retail BrokerCDesk22Valid to 9 Oct 2027View audit
TBR-A-2026-017 TeleTrade Retail BrokerCDesk21Valid to 9 Oct 2027View audit
TBR-A-2026-009 Admirals Retail BrokerAADesk71Valid to 8 Oct 2027View audit
TBR-A-2026-010 FP Markets Retail BrokerADesk68Valid to 8 Oct 2027View audit
TBR-A-2026-007 FxPro Retail BrokerAADesk76Valid to 8 Oct 2027View audit
TBR-A-2026-008 Tickmill Retail BrokerAADesk76Valid to 8 Oct 2027View audit
TBR-A-2026-006 XTB Retail BrokerAADesk75Valid to 8 Oct 2027View audit
TBR-A-2026-003 eToro Retail BrokerAADesk75Valid to 2 Oct 2027View audit
TBR-A-2026-005 IC Markets Retail BrokerADesk63Valid to 2 Oct 2027View audit
TBR-A-2026-004 Pepperstone Retail BrokerAADesk75Valid to 2 Oct 2027View audit
TBR-A-2026-002 Plus500 Retail BrokerAAADesk80Valid to 2 Oct 2027View audit

Grades and scores reflect the evidence at each review date, and are not guarantees or advice.

The grade scale

  1. AAAExceptional80+
  2. AAVery strong70+
  3. AStrong60+
  4. BBBAdequate50+
  5. BBWeak in places40+
  6. BMaterial weaknesses30+
  7. CSerious concerns0+

From Market Intelligence

See all

Analysis

Six cases in ten months: Brazil's crackdown on offshore brokers, and what it means for traders

Brazil's securities regulator has opened sanctions cases against nine foreign trading platforms since 2021, six of them between April 2025 and February 2026, and in August fined Pocket Option's operator R$3.9 million. We read the CVM's own records: who is named, what the penalties have been, how the CVM decides a platform is targeting Brazil, and what it means for traders and for the firms that court them.

Analysis

3.8% or 2.5%? What traders should watch before the ECB's next decision

Energy has pushed euro area inflation to its highest since 2023, and the ECB has raised rates twice this year. Strip out energy and food, and inflation is 2.5%. Which number drives policy, which one inflation-linked bonds pay on, and what to watch when the full September figures land on 16 October.