Data Sources & Verification
Transparency about our own data gathering process. Every BTI score is based on publicly available, independently verifiable sources.
Our Approach
BTI evaluates brokers using only publicly available information. We do not use paid data providers, insider access, or broker-supplied materials that are not also publicly accessible. This ensures our evaluations are independently reproducible by anyone.
Every public source link listed on a broker profile has been verified to be accessible without account registration at the time of the last review. If a link becomes unavailable, we note this in the next review cycle.
Source Categories
Broker Websites
The primary source for all evaluations. We review each broker's public-facing website for execution policies, legal documents, regulatory disclosures, and any published metrics.
Verification: Direct URL access, no login required. Archived via Wayback Machine where available.
Regulatory Filings
Public databases of financial regulators (FCA, ASIC, CySEC, CFTC/NFA, etc.) are checked to verify license numbers, regulatory status, and any enforcement actions.
Verification: Cross-referenced against official regulator registers.
MiFID II RTS 28 Reports
For EU/UK-regulated brokers, annual Best Execution reports (RTS 28) disclose top execution venues and order routing practices. These are publicly required and verifiable.
Verification: Available on broker websites and regulatory databases.
SEC Rule 606 Reports
For US-regulated brokers, quarterly order routing reports provide transparency into how customer orders are handled and routed to execution venues.
Verification: Available on broker websites and SEC EDGAR database.
Corporate Filings
For publicly listed brokers, annual reports, investor presentations, and stock exchange filings provide additional transparency on business models and execution practices.
Verification: Available through stock exchanges and corporate IR pages.
What We Do Not Use
- Affiliate programs or broker-sponsored content
- Private or NDA-protected data
- User-submitted data without moderation
- Automated scraping without verification
- Demo account testing (we evaluate disclosure, not performance)
Reporting Errors
If you find that a source link is broken, outdated, or that a broker has added new public disclosures we have not yet captured, please submit a correction through our Contact page. All submissions are reviewed within 5 business days.